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Nigeria: Agricultural Export Stood At N127 Billion In Q1 2021 – FACAN

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Federation of Agricultural Commodity Association of Nigeria has said Nigeria’s agricultural export stood at N127 billion in the first quarter of 2021.

The figure, according to the organisation, represents 128 per cent increase, compared to N55.8 billion in fourth quarter of 2020.

The Chairman of the Association, Edo chapter, Enahoro Ojiefoh, stated this during the distribution of sesame seeds and cashew seedlings to farmers in Edo North Senatorial District, on Saturday.

Ojiefoh said that sesame topped the list of agro-export commodities, with an estimated export value of N41.9 billion, while cashew nuts, both in-shell and shelled, valued at N13.7 billion.

Ojiefoh said that sesame represented huge opportunities for the country in terms of generating export revenue, adding that it was a cash crop that could fetch the country $1.5 billion, if opportunities therein were maximised.

According to him, Nigeria has been one of the highest sesame seed producing countries over the years, thus making the seed an important component of the country’s agricultural export.

The chairman also said that 55,000 cashew seedlings and 100 sesame seeds were to be distributed to farmers in the senatorial district for cultivation, stressing that the idea was to make Edo an agricultural export state.

He said that the association had designed a four-year master plan to inject one million cashew trees in multiple of hundreds yearly and 2,000 tonnes of sesame seeds yearly into the state’s economy.

Ojiefoh added that this could translate into about a minimum of N8 billion in value by the fifth year.

He urged the farmers to key into the agro-business export commodity by cultivating cashew and sesame for export production.

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