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Nigeria’s Agricultural Exports Value For Q4 2020 Stands At N55.8bn – NBS

Nigeria's Agricultural Exports Value For Q4 2020 Stands At N55.8bn - NBS

The Nigeria Bureau of Statistics (NBS) has revealed that the total value of exported agricultural goods in Nigeria stood at 55.8 billion, representing 1.75 percent of the total exports of the 2020 fourth quarter.

In the report, it was disclosed that within the period under review, the total value of agricultural goods stood at N588.2 billion.

This was disclosed in a report released by the bureau on Friday.

Nigeria’s exportation of agricultural products in the fourth quarter of 2020 fell by almost N5 billion from the N60.6 billion recorded in the third quarter of 2020.

The report read in part, the value of total trade in agricultural goods in Q4, 2020 stood at N588.2 billion representing 6.45% of total trade in Q4, 2020.

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“Export of agricultural goods was valued at N55.8 billion or 1.75% of total exports in Q4 2020. Compared to N60.6 billion recorded in Q3 2020, the value of agricultural exports fell by 8% and by 18.2% when compared to the corresponding quarter in 2019.

“During the quarter, most agricultural products were exported to Asia (valued at N43.4 billion) and Europe (valued at N9.4 billion).”

China remains Nigeria’s top export destination, as more agricultural goods were exported there, with sesame seeds leading the chart of exported products.

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