Federation of Agricultural Commodity Association of Nigeria (FACAN) has released agricultural exports date for first quarter of 2021
According to the data, Nigeria’s agricultural export stood at N127 billion in the first quarter of 2021, which represents a 128 per cent increase, compared to N55.8 billion in the fourth quarter of 2020.
The Chairman of Edo chapter of FACAN, Enahoro Ojiefoh, stated this during the distribution of sesame seeds and cashew seedlings to farmers in the state on Saturday.
He said sesame topped the list of agro-export commodities with an estimated export value of N41.9 billion, followed by cashew, both in-shell and shelled, valued at N13.7 billion.
Mr Ojiefoh said the country could generate export revenue from sesame, adding that it was a cash crop that could fetch $1.5 billion if well maximised.
He said Nigeria was one of the highest sesame seed producing countries, thus making the seed an important component of the country’s agricultural export.
“Sesame seeds come from a flowering plant, mostly grown in Northern Nigeria due to the drought-resistant nature of the seed.
“Aside from the fact that it has numerous health and industrial benefits and is widely used for baking, medicine, cosmetics and animal feeds, it also has a high oil content of about 44 per cent to 60 per cent.
“Reports have it that the global demand for the commodity is expected to grow at 4.2 per cent compound annual growth rate between 2018 and 2024.
“Nigeria is expected to key into this, considering its landmass and the fact that the sesame is drought-resistant and requires minimal fertilizer, which makes it cheaper to cultivate than other crops,” he said.