This country is home to a dizzying array of legal resources that are available for export. In point of fact, you might find it incredibly interesting to learn that there are products created in Nigeria that have the potential to bring in sufficient amounts of foreign currency for the country.
It is not too difficult to export products that do not include oil to other countries. All that is required of you is to have a company that is prepared for export and to comply to the stringent international standards that are in place to protect import and export.
Nigeria already has a sizable market in the soap sector, and countries that are geographically close to it will travel hundreds of kilometers to acquire large quantities of soap so that they can sell it for a profit in their own nations.
If one investigates that region thoroughly, one will find that the opportunities for investing there are as yet untapped. If properly capitalized on, this might represent a significant chance to earn foreign currency. This exchange will further develop the cosmetics and soap sector in the country, particularly the underutilized avenues of the industry.
If those who export from Nigeria are able to adhere to the regulations that govern export in an exacting manner, additional doors of opportunity will be opened for others who have the desire to participate in the process of making exports from Nigeria available in other nations all over the world.
Begin with the items on this list:
1. Sesame Seed
If you are not from the region of the country in which it is made, this can come across as somewhat peculiar to you. In Nigeria, the states of Benue and Jigawa are two of the best sites to get large quantities of sesame seed.
Following closely behind cocoa in terms of both total export volume and total earnings in foreign currency is this product. This commodity is produced in Nigeria at a level that places it in the top five worldwide, and the country benefits economically from exporting it.
2. Honey
Another product that Nigeria exports to foreign countries is honey in its natural, unprocessed state. On the global commodity markets at the moment, the price of one kilogram of honey is greater than $150. Honey that is 100% natural and unprocessed has trace amounts of enzymes in addition to sugar, minerals, vitamins, and amino acids. On the international market, one liter of honey can bring in a respectable amount of money.
3. Shrimps
Shrimps are abundant in the rich organic deposits that can be found in the Niger Delta region of Nigeria. Countries such as Portugal, France, Belgium, Spain, and the United States all have considerable demand for shrimp at the moment.
4. Garlic
Farmers in the savanna regions of Nigeria cultivate garlic as a cash crop using irrigation. Garlic is exported from Nigeria. You are guaranteed to obtain foreign hard dollars if you have good amounts of garlic that have been internationally certified.
5. Yam Tubers
At the moment, Nigeria has the world’s highest production of yam. The export of yams was responsible for around $450 million in currency exchange in 2009. However, knowing that the country is not making the most of its export potentials of these products is disheartening due to the low quality of the products.
Therefore, potential exporters of yam to other nations are required to comply with quality requirements that are guarding the process. This is necessary in order to protect the process. Yam producers have a responsibility to take this into account and make the most of this chance.
6. Charcoal
This holds a prominent position at the forefront of the global market. This product, which is produced in good quantities in Nigeria with technology that has already been developed, has a ROI of approximately 50%.
Even a single person can own a charcoal production outfit and contract with other parties to ship their goods on their behalf. The markets in Asia, Europe, and the United States are all significant consumers of charcoal. The price of one tone of this product is approximately $1000.
7. Ginger
Ginger is one of the most often traded spices in the world, and Nigeria is one of the countries that produces the most ginger. It is a mystery to me why we do not ship a significant amount of ginger abroad. Using these items as the basis for a trans-Atlantic or trans-Saharan commerce operation will allow you to generate consistent revenue in the form of dollars. The exportation of garlic is also at the top of the list of things that can be done in Nigeria.
8. Palm Kernel Oil
Palm oil is not the same as palm kernel oil, which is an oil that is extracted from the pulp of palm fruits. Palm fruits are grown in tropical climates. In the production of a wide variety of cosmetics, pharmaceutical items, and confectioneries, palm kernel oil is frequently present as an ingredient.
This oil has a wide variety of applications, and the mineral content is reported to be particularly high in protein for its many purposes. The quantity is available in Nigeria, and the country gets money off of selling it to other nations across the world.
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9. Clothing and other Textiles
Exports from just this sector of the economy bring in close to 32 billion dollars annually for Nigeria. It is also a fact that unlike other products, which have to contend with high severe regulations of tests, Nigeria’s textiles are granted duty free transit into the United States, which is where it has the largest market in the world because of its distinctive designs, ethnic African designs, and quality.
10. Cocoa Butter
This is where chocolate of every variety comes from in its purest form. The cocoa fruit is utilized in the manufacturing of a wide variety of cosmetic, health, and pharmaceutical items. Cocoa is also used as an ingredient in chocolate.
Because of the extremely high demand for cocoa in both the United States and the United Kingdom, cocoa growing is an extremely important industry in Nigeria.
11. Gallstone
This clay-like substance is obtained from the gallbladder of adult cows and oxen, and it is solid at room temperature. The size can be comparable to that of an egg from a chicken.
Because gallstone is used for medicinal purposes in other countries, the pharmaceutical industry in other countries is booming. In either Asia or the United States, there is a ready market for a good number of well-dried gallstone weighing around 100 grams that has been wrapped securely. If you could get your hands on such a quantity, you would find willing consumers.
12. Rubber
In order to guarantee that only products with valid certification are exported from the country to places like Europe and the United States, Nigeria has established Central Testing Laboratories. Rubber is produced in substantial quantities in Nigeria, which is located in Africa. As a result of the fluctuation in the value of the dollar on the market, the cost of a cubit meter of high-quality rubber ranges anywhere from $400 to $600 at the moment.
13. Cotton
This industry was given a jolt in the right direction by the National Cotton Association of Nigeria (NACOTAN), which contributed N33 million toward its rehabilitation. Cotton is in high demand all around the world and is the natural source of fiber with the least amount of processing.
14. Cassava Flour
Cassava, which may be prepared in a number of different ways, is a staple dish in Nigeria, as is well known. Even in international markets, there is a demand for something like this. The demand for cassava flour that has been treated to a high standard is growing not only in North America but also in Europe and the Middle East.
15. Cashews Nuts
This global product is capable of being produced in almost any section of the country in the United States. A large quantity of raw cashew nuts that have not been processed are shipped to countries such as India, Brazil, and Vietnam.
Once there, they are transformed into kernels and shipped to regions such as Northern America and Europe, where they are purchased for approximately $2 per kilo. The demand coming from these consumer nations is expected to continue to rise.
16. Snail
There is a ready market for you if you are capable of producing snails in sufficient quantities. Snails are quite popular across both Europe and the United States. The beneficial aspect of this is that it is very simple to cultivate because it has a high rate of production while requiring almost minimal investment for the provision of food.
17. Chili Pepper
The climate in Nigeria is favorable, which enables healthy crop growth and contributes to the nation’s production of high-quality pepper that is valued across the globe. It is guaranteed that you will receive the export chance if you are able to cultivate and source for it.
18. Fruit Juice
To many people, the idea that export opportunities for fruit juice concentrates are available in Nigeria may sound a little bit unusual. Yes, we do have it since Nigeria is home to a wide variety of naturally grown fruits that can be found in almost every part of the country, and these fruits are used to make fruit juice products of the highest possible quality. The export of fruit concentrate from Nigeria presents a significant business opportunity in the United States.
19. Poultry
Put out of your mind the idea that there are certain Nigerians who are so greedy that they bring chicken into the nation illegally. When we talk about poultry, we are referring to all domestic birds, regardless of whether they lay eggs or provide meat.
Due to the fact that Nigeria continues to have the most favorable climate conditions for poultry farming, the country’s poultry farm goods are in high demand not only in African countries but also in Western nations. Exporting poultry goods from Nigeria is a market that is largely unexplored at this point in time.
20. Soap and Cosmetics
Nigeria has made progress in this very important field, but the one obstacle that is preventing us from reaching our full potential is the acquisition of reliable technology that will allow us to manufacture cosmetics in large quantities and compete well with other industrialized countries.
The production of soap, which also includes other personal care items, laundry products, and so on, is already an export prospect just waiting to be invested in. Products made in Nigeria that are used in the cosmetics industry have the potential to be exported to other nations in Africa.