2019: 5 Export Products That Can Make You A Billionaire In 2019
Last week, the National Bureau of Statistics, NBS released a report detailing which countries conducted the highest volume of business with Nigeria and what items formed the bulk of exchange.
The report listed India, China, Spain, France and the Netherlands as some of the countries with the highest volume of trade with Nigeria.
These countries conducted trade worth billions of naira with Nigeria within the third quarter of 2018 alone.
It then gives businesses and individuals a hint on what products to export in 2019 to make cool cash.
These are non-oil products which are in high demand overseas.
1. Cashew Nut
A bottle of cashew nut sells for at least 2,000 naira in Nigeria market. That shows you how high the crop is in demand even within Nigeria.
The demand is higher in India. The Asian country imports around 750,000 tonnes of raw cashew nuts yearly to meet local demand and a bulk comes from Nigeria.
According to the NBS report, India imported cashew nuts worth 4.7 billion naira from Nigeria between July and September of 2018.
So, if you are still looking for what to export to make real cash in 2019, consider cashew export to India.
Hides and skin are popular in Nigeria as a major ingredient for the popular delicacy ponmo. But it is indeed a major foreign exchange earner for the country.
If you can process hides and skin to get quality leather, it is a foreign exchange spinner you’d probably never thought about. Spain seems not to be able to get enough of it.
In the third quarter of 2018, Spain imported leather valued at 4.3 billion-naira from Nigeria. So, if you have an interest in the leather business, Spain might just be your perfect market.
Nigeria is the world’s fourth largest cocoa producer, only behind Cote D’ Ivoire, Ghana and Indonesia.
But beyond exporting cocoa beans, you can get involved in the value chain by exporting cocoa paste.
And if wondering where to export to, you may look no further than Spain as well, as the country imported cocoa paste worth 300 million naira between July and September of 2018.
The cocoa beans itself is also a money spinner if you can find your way into the supply chain.
Within the period under review, Netherlands imported cocoa beans worth 2.2 billion naira from Nigeria.
4. Soya Bean Oil
What is in Soya bean oil, you might ask? Well, Soybean oil is one of the most widely consumed cooking oils in the world. It has immense nutritional benefits.
Also, as drying oil, processed soybean oil is also used as a base for printing inks (soy ink) and oil paints.
Soya bean is in abundance in Nigeria, and it is an export commodity that rakes in billions of naira for the country annually.
And if you are looking for where to export to, look no further than France. According to the NBS report, France imported 1.1 billion-naira worth of soya bean oil from Nigeria in the third quarter of 2018.
5. Sea Food
Talk about seafood, it has a ready market anywhere across the world. Examples of seafood include crab, shrimps, lobster, prawn, crayfish etc. and Nigeria has these in abundance.
If you are wondering where they may be, while you are at it, smart businessmen are sending tons of shrimps and prawns to Europe and earning huge sums.
For instance, between July and September 2018, Netherlands imported frozen shrimps and prawns worth 1.9 billion naira from Nigeria, making the western European country one of Nigeria’s top trading partners.
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