Nigerian Agricultural trade hits N261bn in second quarter- Ogbeh



ABUJA- THE Minister of Agriculture and Rural Development, Chief Audu Ogbeh, at the weekend disclosed that Nigerian Agricultural trade has hit N261. 92 billion in second quarter of 2017, which represents 4.60 per cent.
Ogbeh made the disclosure at the launch of Nigeria Agribusiness Resource Centre, NARC, in Abuja, for agricultural investment and sponsored by Africa Lead.
The Minister who was represented by the Permanent Secretary of the Ministry, Dr Buka Hassan, said agricultural export from the country was 0.9 per cent out of the total exports in second quarter of 2017.
According to him destinations of exports in the second quarter include Asia- 66.38 per cent, Europe -24.98 per cent, Americas- 4.37 per cent, Africa -3.88 per cent and the Oceania- 0.39 per cent.
Agricultural commodities exported were cashew nuts, which worth N13.5 billion representing 45.4 per cent of the total agriculture exports and 1.37 per cent of total exports.
"Cashew nut export to Vietnam was N12.16 billion, N1.4 billion to India and N6.34 million to Kazakhstan.
"Sesame seed export in the said quarter was 7 billion or 23.6 per cent of total agricultural exports, Sesame seed export to Japan was N1.3 billion, India and Turkey N0.9 billion respectively, South Korea N0.8 billion and China N0.6 billion, Frozen Shrimps and prawns export was N1.6billion or 9.6 per cent of total agricultural export, Netherlands N1.5 billion, Belgium N0.67 billion, United States of America N0.22 billion, France N0.17 billion and Spain N87 million.
“Export of soybean flour and mills was N2.3 billion with N2.1billion of this was to Spain, N116.6 million to Ghana N72.9 million to Senegal N18.1 million and Mauritania, and N2 million to Germany.
“Other agricultural exports are Ginger N663.7million, flours N568.5 million, Peanut Kernels and other groundnuts N481.3 million and milk and cream powder N282.4 million," he said.
Meanwhile, the Minister said investors and exporters of agricultural export produce from the country would need a more reliable single point of contact as intermediary with the government to facilitate tailored agricultural investment support services, high quality market data, information and access to agricultural programmes, investment plans and other opportunities for partnership.
"Unfortunately, the lack of a well functioning agricultural resources centre to assist investors with all necessary tasks of setting up agribusiness creates uncertainty in attracting and facilitating investment.
“As a way of achieving this, the ministry sought and secure the support of the USAID-AFRICA LEAD and the US Feed the Future Initiative for the establishment of a Nigeria Agribusiness Resource Centre”, he explained.
In her earlier remarks, West Africa Regional Director, Africa Lead, Carla Denizard, stated that the agribusiness resource centre will streamline investment process, from inquiry to implementation and to ease new investors entry into the country and more importantly to promote and increase local investments in agriculture, and that the centre primarily was established for Nigerians.
“We expect that it will improve coordination between critical investment support agencies and help them to focus on delivering services that increase and support agricultural investment in Nigeria.
“It will increase access to and dissemination of data and information on value chains and opportunities in agribusiness, how to start up, and or expansion of agribusinesses, how to access land and inputs, fuels and regulations, provide referrals to business advisory services, a place of learning where seminars and training on agribusiness development and entrepreneurship will take place for youth special groups like women, linkages and strategic partnerships are formed.

“It will serve as a one stop information and advisory hub for prospective agribusiness investors online and within the physical space that we are here to inaugurate”, she said

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