It’s a pity that despite the large number of products produced in Nigeria, there are also demands outside of the country and a lot of people are still yet to tap into this gold mine – getting our products outside the country. You do two things when you decide to become an exporter of Nigerian produce, you make your money (which is important), and you grow the economy (which is ‘importanter’).
The 2017 estimate of exports outside Nigeria was about $41 billion. This is an interesting figure as Nigeria has a lot of in-demand products outside the country you could also make your money exporting.
Here are ten great products you could export outside Nigeria that produce great returns.
1. Ginger – You could export ginger to foreign places like Europe, and also find buyers in Canada. This is really profitable as you could buy a bag of ginger for about N20,000 or less, and sell for over N65,000 to foreign countries.
2. Gallstone – This is an in-demand product as it has a lot of health benefits. You could get a gram in the range of N1,000 – N1,500. And make around 200% profit in sales, subtracting the cost of transportation, shipping, and all of that. That’s absolutely dependent on how many gallstones you buy. So, make your calculations and be sure that you’re buying enough to be able to cover all your expenses and give you greater returns on your investment.
3. Cocoa – Nigeria is one of the major exporters of cocoa in Africa, and you can make millions of Naira on one single transaction of exporting tons of cocoa. Of course, You really do not need to start with much capital.
4. Honey – Nigeria produces more than 15 million liters of honey annually and there are so many countries that honey is in great demand. Like the USA, Germany, the U.K, Japan, France, Spain, and Belgium; the top 7 major importing countries of natural honey.
5. Cashew nuts – This one is a really profitable one as Nigeria is one of the major producers of cashew in the world. With one-fifth of the world’s cashew production coming from Nigeria. Major importers of cashew nuts include the Netherlands and Germany (which account for more than half of the world’s total imports).
6. Yam – There are currently a lot of Nigerians abroad, in countries like the U.K that really need this one. This is really profitable as 2kg of yam could sell for close to 4 pounds. That’s close to N1,900. That’s a little more than 200% profit as 1kg goes for about N300 – N320 here in Nigeria.
7. Garlic – Indonesia is the largest importer of garlic as it takes in around 480,000 tonnes annually. With major importers also like Brazil, Malaysia, and the USA; Nigerians have gone on to make millions of Naira exporting garlic to these countries even though Nigeria produces a little above 600 tonnes of garlic every year.
8. Plantain – Nigeria is the 5th largest producer of plantain with 3.09 million tonnes per year. In use for a whole lot of things like producing plantain chips, plantain herbs, and plantain flour; it is in huge demand. Especially in countries like the USA, and Belgium that collectively reports one-fourth of the world’s plantain imports.
9. Textiles and Garments – Nigeria isn’t among the top ten largest producers on this one. But rakes in close to $1,000,000 annually on exports.
10. Sesame seed – This one is really valuable for Nigeria as it is in hot demand all over the world. It earns Nigeria more than $500m annually and has a 3% increase in production every year.
Exporting is very lucrative as Nigeria has a lot of produces that is in great demand in foreign countries. You also have to be calculative and invest in larger quantities, especially based on the commodity you want to export. You don’t want to spend a lot on transport and other expenses and then make very little in profits in final calculations.