The biggest revenue earner for Nigeria is exportation of
crude oil. In line with the Governments expectation and investment in commodity
export, business owners are cashing in on the trend.
To begin an export business you need to choose a
commodity. Luckily Nigeria is blessed with a wide array of produce and raw
material. Farm produce are a high revenue earner and there is abundance in the
country.
Major
Export Locations
There are some major destinations favored by Nigerian
exporters. The top destinations are United States of America, United Kingdom,
Canada and Europe.
1. Cosmetic
and Soap
Cosmetic and soap export is a thriving business. However
the manufacturer needs to conform to the ingredient requirements and other
safety issues.
The soap manufacturer should use natural ingredients and
provide information on the labeling. Before exporting your product study the
destinations laws.
2. Fruit
Juice
The country is blessed with abundance of fruits. Common
fruits are mangoes, grapes, oranges and pineapple. We have coconut, lemon,
banana and plantain.
Many countries do not have some of the fruits but have a
huge craving for the juice. You could export the fruits to a juicing company or
make it into a concentrate. Study the export laws of the destination before packaging
and exporting.
3. Chili
Pepper
You get huge amount of chili pepper in the northern parts
of Nigeria. The peppers are very hot and ideal for pepper source manufacturers.
Exporting the peppers is lucrative however adequate provisions should be made
on the packaging.
4. Snail
Snails are a huge delicacy in Nigeria and around the
world. The major advantage we have to European countries is our native snail.
The snails in Nigeria are of the giant species and very delicious. Many
European markets are eager to buy Nigerian snails.
5. Cashew
Nuts
We have actually ventured into cashew business in the
past. The business attracts huge returns and is very lucrative. The cashew has
a huge local and international market. The nuts are used in manufacturing
companies locally and abroad.
6. Cassava
Flour
Another crop in huge abundance is cassava. The cassava
can be processed into flour and exported to foreign countries. The major
consumers of the flour are African in the Diaspora.
7. Cotton
Cotton is abundant in the northern part of Nigeria. A
very minute amount is used in local product due to the lack of textile
companies in Nigeria.
The majority of cotton finds its way to foreign markets.
The product is used in the manufacturing of high quality fabrics and household
covering. Cotton used to make shirts, trousers, skirts, drapes, tablecloths,
napkins.
8. Yam Tubers
Nigerian yams are large white and delicious. There is a
huge market for yams both locally and internationally. However the yams must
pass destination inspection tests to enter the country. Problems facing yam
export are use of pesticide, infestation and poor quality yams.
9. Charcoal
Charcoal export is another highly lucrative venture. The
charcoals are processed and bagged following strict instructions. Foreign
markets need the charcoal for home use during winter season.
10. Shrimp
Export
There are many coastal regions that have big shrimp. The
challenge to exporters is keeping the shrimp fresh on arrival. There is a high
demand in Europe and America.
11. Garlic
Garlic export is lucrative and less challenging. This is
because they are durable and attracts good prices.
To succeed make sure the garlic is high quality to meet
up to export standards. The cash crop has many culinary and medicinal
properties and found predominantly in savannah regions.
12. Honey
A highly treasured commodity is honey. To assure the
quality of your product you might need to establish a honey farm. This would
effectively cut out the middleman and ensure product quality. Honey is used in
many products, food and medicines.
13. Palm
Kernel Oil
Palm Kernel oil is different from palm oil. The kernel
oil is the byproduct of the oil palm. It is used in cosmetics, confectioneries
and pharmaceutical companies. Some soap manufactures add kernel oil in the
manufacturing process.
14. Ground
Nut
Although the ground nut pyramids are long gone the
commodity is still viable. You can start a groundnut exporting business with
appreciable result. However you need serious capital to source the product.
15. Cocoa
Butter
The cocoa plant has high economic value and is abundant
in Nigeria. The coca butter is derived from the cocoa plant as a byproduct. The
major market for cocoa butter is the United States of America.
16. Sesame
Seed
Exporting Sesame seed is slightly challenging. You need
to find a foreign partner interested in your product. There are also export
requirements to avoid rejection of the export.
17. Gall
Stone
Gall stones are difficult to acquire since they occur
naturally in some oxen or cows. The size, shape and color are of great
significance to the buyer. They are common in pharmaceutical products and
attracts premium price.
18. Ginger
This valuable crop is abundant in Nigeria. Like most of
the products, Nigerian and foreigners buy the products for export. Nigeria is
one of the top 5 producers in the world and there is a steady market. Popular
locations are Asian countries and Europe.
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