Olam Nigeria Limited and eight other companies lead non-oil exporters, exporting goods worth $100 million.
This disclosure was made by the Central Bank of Nigeria (CBN) in its monthly economic report.
It stated that Olam Nigeria Limited topped the list with a value of $26.65 million, making up 17.1 percent of the total export proceeds.
Olam’s profit comes from its dealings in the exportation of cashew nuts, cocoa beans, and sesame seeds shipped to Turkey.
With a total of $16.49 million dollars, Starlink Global and Ideal Limited comes second on the list.
The reports stated, “Estimates of export proceeds of the top 10 non-oil exporters for November 2020 was $100.88m.
“A disaggregation revealed that Olam Nigeria Limited topped the list with a value of $26.65m or 17.1 per cent of the total, from the export of cocoa beans, cashew nuts, and sesame seeds to Turkey and China.
“The second major non-oil exporter was Starlink Global and Ideal Limited, with an export value of $16.49m (10.6 per cent), from the export of raw cocoa beans, raw cashew nuts, shea nuts and sesame seeds to Malaysia.
“The third major non-oil exporter was British American Tobacco Nigeria Limited at $12.57m (8.0 per cent), realised from the export of cigarettes to Liberia, Guinea, Ghana, Cameroun, Cote d’Ivoire and Niger Republic.
“The fourth major non-oil exporter was Indorama Eleme Fertilizer and Chemicals Limited, with a value of $9.82m (6.3 per cent), realised from the export of urea, fertilisers and agronomy services to Turkey and China.
READ ALSO: Top 10 States Received N1.03 Trillion FAAC Allocation In 2020
“Tulip Cocoa Processing Limited, with export value of $7.66m (4.9 per cent) realised from the export of cocoa liquor, butter and cake to The Netherlands was placed fifth position.
“The sixth, seventh, eighth, ninth and tenth positions were occupied by Mamuda Industries Nigeria Limited, Metal Recycling Industries Limited, AAK Nigeria Oils and Fats Limited, Armajaro Nigeria Limited, and Valency Agro Nigeria Limited, respectively.
“These companies earned $7.21m (4.6 per cent), $6.66m (4.3 per cent), $5.73m (3.7 per cent), $5m (3.2 per cent), and $3.07 million (2.0 per cent), respectively.”
