Nigeria Steps Up Foreign Exchange Earnings From Coconut

Nigeria’s investment in agriculture may be yielding good dividends, if the new revelation of the Minister of Agriculture and Rural Development, Sabo Nanono is anything to go by.

Nanono in a training for coconut farmers disclosed that the dry fruit has contributed to Nigeria’s exports and has helped foreign exchange earnings.

In the training held in collaboration with the Nigerian Institute for Oil Palm Research in Benin, Edo State, Nigeria’s Southern region, Nanono said the country made $150m from coconut oil in 2020.

He further revealed that the country is expected to make $250m from coconut and coconut products’ exports in 2021.

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Coconut, as revealed by Nanono who was represented by a Director in the Ministry, Bernard Ukattah, makes up 10% of Nigeria’s agricultural exports every year.

He said it has provided a source of livelihood for at least 500,000 families in the country, with Lagos State being the highest producer of coconut in Nigeria.

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