Agriculture has now become an attractive revenue generation for both private and public sectors.
In communities across nations many are re-discovering the joy of profit from sowing and reaping, and are now making a living from the sales of produce from their farms.
A number of agricultural produce from the shores of Nigeria are doing quite well in the international market.
We’ll be discussing the top 5 most profitable agricultural export products in Nigeria.
1. CASHEW NUTS: Cashew nut is popularly called “the king of nuts” because of its great potential for exportation.
According to National Cashew Association of Nigeria [NCAN], Nigeria averagely earns N144.7 bn annually which implies that many Cashew nuts investors are reaping a great ROI due to the high rise of dollar exchange rates and the constantly rising price of the Cashew nuts commodity.
2. RICE: Nigeria, which was formerly a major importer of rice has now ventured into the exportation of rice due to an exponential increase in the production of locally grown rice in the country.
Nigeria has earned about 216billion naira from importing rice to other countries.
3. MELON SEEDS: Despite the fact that Nigerian farmers face obstacles in agricultural production.
Nigeria is still ranked as one of the global leading coutries for melon exportation in the world. As a matter fact melon remains one of the top export products in the country.
4. GINGER: Ginger farming and exportation business is one of the best agricultural investment opportunities in Nigeria. This is evident in the fact that the returns on ginger farming is over 35% due to the health benefits globally associated with ginger use.
5. GARLIC: Exporting garlic from Nigeria is a lucrative business due to the fact that it is one of the most widely used hallium crops and is also a good medicinal supplement.
The garlic market has a constant growth globally with its annual revenue summing up to over 35million dollars.
Other well sought-after export crops include:
6. Sesame seed
7. Crayfish
8. Bitter Kola
9. Kolanut
10. Cocoa