Export Products are those items produced mainly for exportation out of Nigeria. That is to say, they are not for local consumption or use. Not only are these products highly profitable, but also yield good return on investment.
By and large, if you are looking for a highly profitable business to start, it will be worth it to consider the list of export products listed below. In addition, I will also provide you with the list of agricultural exporters in Nigeria at the bottom of the article.
This article is for you if you are looking for information on Nigeria export products and starting export business in Nigeria; as a matter of fact, it is a good resource for you to start with.
Since oil price has started declining, many Nigerians have been looking inward for the best alternative. This inward looking has actually yielded good stuff for many Nigeria business owners.
The good thing about agro product exportation is that there are ready made markets for the goods; In addition, the profit margin is always high.
Are you looking to start an exportation business? or are you looking for good export products to start with? If your answers are yes to the two questions, then sit back and go through the list of these highly profitable export products below.
To begin with, I will list all the export products that are profitable; In addition, I will take you through the basic requirements needed to start the business.
Nigeria, a country blessed with human and natural resources; has great potential to produce and export locally made products. Either you are just starting out in the export trade or an expert in the business, you will find these information useful.
List of highly profitable agricultural export products in Nigeria
Here are list of profitable agricultural export products in Nigeria for your consideration:
1. Cashew Nuts:
I call cashew nut the king of nuts. Why? I see it as that particular product that has great potential for exportation; that is to say, it is an international commodity.
According to the National Cashew Association of Nigeria, NCAN, Nigeria earned ₦144.7 billion (about $402 million) from the export of raw cashew nuts to other countries. This is an indication that cashew nut exportation is a profitable business to start.
To be a successful exporter of cashew nut, you must maintain high quality the product and also be prepared to partner with other cashew nut producer that has good products.
How much can one invest in cashew nut business?
As you may know, many cashew nut investor are reaping great return on investment (ROI) due to high dollar price rise and also the rising prices of the cashew nut commodity.
Nevertheless, with as little as ₦1.3 million – ₦1.7 million, you can start cashew exporting business; in addition, you should expect a return on investment of between 15% to 35%. This mainly depends on the quality, processing and the buyers of your products.
Although, Nigeria is a major importer of rice but there is great prospect for individuals and business entities looking to venture into the exportation of rice. On the positive side, Nigeria is saving a lot (around ₦216 Billion) last year from importing rice from other countries.
What does this mean?
It means that there is an increase in locally grown and production of rice in the country.
As a rice farmer, you now have a better chance to grow your rice in order to sell locally or internationally.
How much will it cost to start rice farming, production and exportation?
The cost to start rice farming, production and exportation in Nigeria depend on various variables such as:
- Cost of acquiring or renting the land to use for the rice farming;
- The salary paid to the workforce;
- Machinery and equipment cost;
- Cost of distribution of the finished rice product.
With this in mind, you are looking in excess of ₦10,000,000 as the cost to start rice farming in Nigeria.
Melon Seeds (Egusi) has many uses; in addition, it has lots of nutritional values such as low calories, magnesium and protein. For this reason, melon seeds are high demand all over the world.
Despite the fact that Nigeria farmers face different obstacles; such as lack of finance, poor agricultural infrastructure and others, Nigeria is still ranked as one of the global leading country for melon exportation in the world. As a matter fact, melons remain top Export Products in the country.
Ginger farming and exportation business is one of the best agriculture investment opportunity in Nigeria; as a matter of fact, the return on investment on Ginger is over 35%. That is to say, you will receive more than 35% in profit margin.
Due to the health benefits associated with ginger uses, it is a well sought after plant all over the world. Such health benefits includes:
- Relieving nausea;
- Loss of appetite;
- Motion sickness, and
- Pain relief.
As shown above, ginger is very useful; for this reason, it is one of the best export products you can invest in. Either as a grower of the plant and stem or as an importer of the product.
Before I leave this topic of garlic, I will like you inform you that Nigeria is one of the countries to recon with when it comes to the exportation of ginger.
Exporting garlic from Nigeria is a lucrative business; nut only is it the second most widely used Alliums crop after onions, but also come as a good medicinal supplement for reducing cholesterol and high blood pressure. In addition, it is good to help prevent some brain diseases.
By investing in the exportation of garlic, you are setting yourself up to reap great financial benefits. As I write this article, garlic market is growing; in fact, the global garlic market revenue amounted to over $35 million.
Investing in plantain exportation is good; with it, you have different options. You can export it as either ripe or unripe plantain or you may decide to export its bye products. Such products includes plantain chips and plantain flour.
Exporting plantain from Nigeria is profitable; as a matter of fact, plantain farming in general is a wealth producing venture.
Just for the record, Nigeria is the highest producer of plantain in Africa; at the same time, Nigeria is the seventh largest producers of plantain in the world.
You too can join in this lucrative business of plantain exportation. In other words, this ABX World product from Nigeria can be a business to start.
A vital ingredient used in making chocolate; originated from the cocoa beans that grows from cocoa tree. Many other produce derived from cocoa are:
- Cocoa butter;
- Animal feeds (from cocoa husk);
- Alcohol and soft drinks;
- Cocoa powder;
- Marmalade; and many more.
As a leading agricultural export product in Nigeria; cocoa is a well sought after product. In fact, this is a product that has put Nigeria on the world map as the forth largest exporting nation of cocoa in the world. In addition, the Nigeria government gives more insight into how to start cocoa farming in Nigeria.
8. Kola Nuts
Kola nut is the seed of the cola tree, which contain caffeine and other supplement that increase energy and at the same time, improve health; it is indigenous to west Africa, can be chewed or made into a drink.
At the present time, Nigeria is ranked first in terms of top Kola nut producing countries with over 52% of the market production value; correspondingly, the country produces over 143,829 Metric Ton of the product each year.
According to pricing statistics gathered from Intelligence report, the average Kola Nut production price (in real time) stood at $3770.50. With Nigeria exporting over 52% of Kola nut used around the world, her exporting value stand at just below $8 billion.
As can be seen, Kola nut remain one of the top Nigeria export products; in fact, it generate substantial revenue for the Nigerian government.
How much can one invest in Kola nut business in Nigeria?
As shown above, Kola nut farming business in Nigeria is profitable. Depending on your pocket, the initial capital to invest in Kola nut business can be as little as ₦100,000.00. This can go up to ₦2,000,000. if you want to start on a higher scale.
Nevertheless, it is advisable you secure a buy first before committing your cash into Kola nut exportation.
9. Bitter kola
Known for its health benefits, Bitter kola has greater variety use; from its use as an ingredient in the production of Kola soft drinks to agricultural produce in the treatment of bacterial infections such as tuberculosis and diarrhea.
Be that as it may, Bitter Kola exportation is profitable. According to statistics, Nigeria is one of the highest producers of bitter Kola in the world. With about 90% of its current production consumed locally. This is an opportunity for individuals looking to start Bitter Kola exportation; as it is of high demand in countries like Great Britain, America, China, India and other Asian countries.
What is the current price of Bitter Kola?
Presently, you can sell 1kg of Bitter Kola at the international market for $17.00; while you can easily purchase it locally at ₦250.00 (less than $0.70). The profit margin is high, even after factoring all overheads and cost of shipping.
Similar to the process of exporting Kola nuts, I will advise that you get a serious buyer before committing to much capital its exportation.
One question often asked is, where can I get Bitter Kola in large quantity?
You can purchase from farmers in Ondo State, Oyo State, Ekiti State and other southern part of Nigeria. There, the farmers have them in large quantities and they always look for good buyers.
Yam, name given to an edible tubers that belong to the family of Dioscorea genus has Nigeria as the highest producer.
When it comes to export of agricultural products for profit, Yam tuber exportation should be on top of your list.
A bean is an edible seed from the family of flowering plant called Fabaceae; it has leguminous plant that bears beans in pods used for human or animal consumption.
In general, there are different variety of beans ranging from Soya beans to Kidney beans; with each one of them having their diverse range of flavors and applications. Due to the wide range of beans we have, it will be better to have it on a different topic that focus on the types of beans, health benefits and nutritional information and facts.
Fact about Beans Exportation in Nigeria
Although there was a ban on export of Nigerian dried beans to European Union (EU) for low quality and on the ground that it contained a high level of pesticide considered dangerous to human health. This makes us not to have an up to date record on exporting beans out of the country.
Nevertheless, The United Nations Industrial Development Organization (UNIDO) began a pilot export of Nigerian dried beans to the European Union in April.
Be that as it may, exportation of beans is one great food product to export in Nigeria; that is to say, exportation business that is profitable.
Demand for this freshwater crustaceans that has resemblance to small lobsters is high in the international world. Although it is closely related to lobsters, it is different in look and shape. Crayfish has great health benefits; in fact, that is the main reason why it is eaten all over the world.
By and large, the global demand for Crayfish makes it an export product to look into. The demand is rising year-in-year-out because the number of consumers looking to pay for the edible fishery product is high. As a matter of fact, the global crayfish market (importation and exportation) are hitting all-time highs.
China, a populous nation in Asia contributed largely to the rising in demand of Crayfish. The market for Crayfish worth billions of dollars for the fact that hundreds of thousands tonnes of the fish is being consumed by the day.
As can be seen, there is high demand for Crayfish, especially in Asia, making it an export product that is highly profitable. As a Nigerian looking to export fishery products, I will encourage you to get more information on them from The Nigerian Export Promotion Council (NEPC).
How much does it require to start crayfish export Business?
As one of the top Nigeria export products, you will require a substantial amount of capital to start the business; something in the range of ₦3.3 million – ₦4.7 million if you really want to make good returns on your investment. Although, you may start small, but I will recommend you start withing the region mentioned above.
In contrast to all other edible fishery products, Crayfish is highly profitable. Ultimately, Chinese demand for Crayfish is the “in-thing”; that is to say, the country has provision for you and your seafood export business.
Let me leave you with this,
At the present time, crayfish exportation business is worth over US$2 billionaccording to the latest consumer report. In a word, are you ready to tap into it?
Well….. the choice is yours.
13. Sesame Seeds as Export Products
Sesame seeds in ranked second when it comes to the sought-after cash crop in Nigeria; the first is Cocoa. As a result, Nigeria is ranked third on the list of major producer of sesame seeds across the globe. Only India and China (respectively) produce more.
Presently, Nigeria currently produces over 300,000 tonnes of Sesame Seed per year. And with the current ₦300,000/tonne in the global market, the country is raking in substantial revenue for the exportation of Sesame seeds.
Where do Sesame Seed grow in Nigeria?
Most compelling evidence shows that the seed is widely grown in the following states:
- Jigawa (highest producing states);
- Katsina; and
- Kogi States.
As shown above, Sesame seed exportation is one of the valuable agricultural export products in Nigeria.
14. Locust Beans
Popularly referred to as African locust bean with the botanical name as Parkia Biglobosa.
15. Shea butter
Other Top Products you can export from Nigeria
16. Ground Nuts
19. Soya Bean
20. Palm Kernel
27. Poultry Products
29. Bitter Cola
31. Coco Yam
Majority of products mentioned above are either cash crops, aqua products or animal products. Although, few are also plant produce.
In the latter part of our list, I will take your through the solid minerals found in Nigeria. These solid minerals are export products in Nigeria.
Solid minerals in Nigeria ready for export market
33. Iron Ore