Stakeholders Push for Agric Export Diversification to Tap $7.6bn Potential

News in Brief

-Stakeholders call for the diversification of Nigeria's agric exports beyond staples like cocoa, to tap into $7.6bn potential earnings.

-Sectors like fruits, vegetables, and pepper are forecasted to hold the key to expansion if challenges are tackled.

The Federal government of Nigeria has been urged to intensify efforts to expand the nation’s agricultural export portfolio beyond traditional staple products.

Chairman of the Board of Trustees of the Federation of Agricultural Commodity Association of Nigeria (FACAN), Victor Iyama, made the call, emphasising the urgent need to diversify the range of agricultural products on the global stage, especially as trade ties with international partners deepen.

According to Iyama, fostering partnerships grounded in mutual gains and tangible results could unlock fresh avenues for Nigerian exporters and widen foreign revenue streams for the country.

Industry players are amplifying calls for diversification, spotlighting commodities like pepper, fruits, and vegetables as global demand increases. These advocates argue that ramping up production and bolstering competitiveness could position Nigeria as a key supplier in international markets. Analysts point to robust opportunities in agriculture, forestry, fisheries, textiles, and footwear manufacturing, which could fuel steady export growth with targeted development.

Untapped Agric Export Potential Revealed

Data from the International Trade Centre's Export Potential Map underscores Nigeria's capacity to boost export revenues by up to $3.9 billion through high-value, underutilised goods, placing the overall potential at $7.6 billion.

Cocoa beans lead with the widest gap between current exports and achievable levels, pegged at $749 million, nearly one-fifth of the untapped opportunity. Urea and in-shell cashew nuts follow closely, while processed cashew, sesame seeds, and soya beans lag despite strong soya demand; cocoa has realised just over half its potential.

From 2020 to 2024, export figures confirm Spain, India, and the Netherlands as Nigeria's primary partners, capturing over half of total shipments annually. Recent Nigerian Export Promotion Council (NEPC) reports show non-oil exports climbing to $6.1 billion in 2025, with cocoa beans, urea, and cashew nuts topping the list.

Challenges Hampering Competitiveness

Despite these prospects, Nigeria grapples with a feeble export edge, as highlighted by Dr Ofon Udofia, Executive Director of the Institute of Export Operations and Management. He lambasted insufficient institutional backing, questioning whether current frameworks genuinely spur export growth amid a lack of long-term strategies. Regulatory bodies, he said, prioritise revenue over helping products meet global standards.

Udofia decried multiple levies on exporters, including those from the export supervision scheme, alongside quality control lapses leading to frequent overseas rejections. Port operational costs have spiked sharply versus neighbours, disadvantaging Nigerian players. He demanded swift reforms via government-private sector synergy, warning that disjointed efforts would perpetuate shortfalls.