Nigeria has become one of the top places for sourcing raw products/commodities in the world.
The country’s large geographical extension allows it to have a diverse range of climates across the country. Different agro-ecological zones provide the perfect conditions to fructify a wide variety of agricultural products and commodities in the country.
Nigeria Economic Recovery and Growth Plan (ERGP) released in March 2017, has increased the efforts on prioritizing the diversification of the Nigerian economy in different areas, promoting commercial initiatives locally and internationally. Agriculture and food security are two of the sectors of prime priority for this plan. Nigeria’s agricultural sector employs nearly 70% of the population and contributes nearly 22% of GDP (source). The plan has the goal to continue to grow the sector by about 7% yearly and prime agriculture as a job creator and a foreign exchange earner.
Nigeria is on the way to become a net exporter of commodities such, cashew nuts, groundnuts, rice, cassava, and vegetable oil.
Nigerian competitiveness: PRODUCTS AND LOGISTICS
Nigerian Prime Agricultural Products
Nigerian Cocoa beans are highly aromatic and with a smoother flavour.
The cocoa sector is dominated by smallholder farmers with some commercial plantations.
Nigerian position as a major exporter of premium quality raw cocoa beans is undeniable gaining more and more recognition on an international level. As the fourth-largest producer, Nigeria covers 6.5% share of cocoa beans global production. Nigeria’s climate supports production and supply of cocoa beans from October to June guaranteeing a sustainable supply.
A liberal cocoa market stimulates competition between cocoa producers, allowing to have competitive prices in the international market (source).
Nigeria is among the world largest producers of Ginger producing almost 523,000 metric tons annually (FAO, 2016).
Nigerian smallholder farmers are the biggest producers of ginger, as they constitute around 90% of the sector. Ginger harvesting is a gender-friendly sector (source).
Nigeria is a large producer of a Sesame Seeds, currently 7th largest producer worldwide.
Smallholder farms constitute over 90% of the sector, dominating the production of sesame seeds.
It hugely helps to provide equal opportunities and reduce poverty in poor regions of Nigeria. Twice in a planting season, production and harvesting are done. Uninterrupted supply is guaranteed all year long (source).
Nigeria Cashew nuts producing season runs from December to June. The 19 producing states make the country fourth-largest producer of cashew nuts worldwide.
The production of Nigerian cashew nuts is projected to grow upwards reaching a production of 300,000 metric tonnes of cashew by 2030. Sourcing cashew from Nigeria enhances gender empowerment, as over 70% of the workforce are women (source).
Nigeria is the largest peanut producer in Africa and 3rd largest producer in the world, after China and India.
Equally important, the Nigerian peanut season lasts from August through December. Hence, peanuts are available year-round, guaranteeing a consistent supply.
Peanuts are a major job source for small-scale farmers in Northern Nigeria. Being a labour-intensive crop, it generates employment for the rural poor.
Nigerian export logistics
The availability of several ports along with the dedicated terminals for agricultural products makes exports seamless.
SEA FREIGHT: The transportation network in Nigeria is large and covers the entire country. Logistics systems are built to ensure fast, efficient, affordable and convenient transport facilitation by enhancing the quality of the goods delivery system. Nigeria is amongst the top African countries in sea freight and cargo handling. Apapa port is the largest in West Africa and Tin Can port was among the top 5 largest ports of West Africa in 2017 as well, based on total cargo volume. (source)
AIR TRANSPORT: There are six international airports and about 20 domestic airports that convey passengers and goods to international airports. The airports serve as a major centre for air cargo/freighting with daily direct and indirect flights connecting every part of the globe.
There are ongoing development activities to expand airports to accommodate more passengers and establish dedicated air cargo platforms. (source)
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We guarantee a straightforward and painless trading experience. TOSK is your direct contact with Nigeria commodity market.
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