‘Nigeria can unlock $3.9b to boost non-oil exports’

Nigeria has an opportunity to boost its export earnings by up to $3.9 billion if it fully exploits untapped global demand for high-value products, according to new findings from the International Trade Centre’s (ITC) Export Potential Map. The report shows that Nigeria’s total export potential to the world stands at $7.6 billion, driven primarily by strong opportunities in cocoa, urea, cashew nuts and, increasingly, coffee.

The ITC assessment reveals that cocoa beans remain Nigeria’s strongest export performer, with the largest absolute gap between potential and real-world exports. The agency stated that cocoa alone presents an unrealised export opportunity worth $749 million, representing 19 percent of the country’s untapped potential. Cashew nuts (in shell) and urea also rank among Nigeria’s highest-potential export products, underscoring the country’s competitiveness in agricultural and agro-industrial commodities. The report highlights a significant new frontier: unroasted, non-decaffeinated coffee (HS 090111). It identifies coffee as one of Nigeria’s best options for export diversification alongside copper cathodes and frozen fish. ITC noted that global demand for coffee continues to surge and that Nigeria “has closest export links with Japan,” while the United States is “the market with the highest demand potential” for Nigerian coffee.

Japan currently imports $1.4 billion worth of this category of coffee, while Germany imports $4 billion and the United States $5.8 billion. All three markets apply a zero-percent tariff to Nigerian coffee, strengthening Nigeria’s competitiveness. The Netherlands, Italy and Belgium also import large volumes of unroasted coffee—$843 million, $2.2 billion and $1.7 billion respectively—with no tariff barriers for Nigerian exports. Korea applies a modest tariff of 2 percent on the same product. ITC indicated that the scale of global demand makes coffee a strategic commodity for Nigeria’s export expansion efforts. The agency adds that “Nigeria finds Beans ‘Vigna mungo/radiata’, dried and shelled easiest to reach,” while jewellery of precious metals faces the strongest international demand potential.

Responding to this, Chairman , Board of Trustees , Cocoa Association of Nigeria,(CAN) Dr. Victor Iyama, said coffee remains one cash crop that can boost the nation’s foreign exchange earnings. With cocoa, cashew, urea and coffee all showing substantial headroom for growth, the report positions Nigeria to unlock billions of dollars in additional export revenue if it aligns investment, logistics and trade policy with global demand.

Source: https://thenationonlineng.net/nigeria-can-unlock-3-9b-to-boost-non-oil-exports/

Date: 17Nov25