How Key Non Oil Exporters Generated Over $100 Million- CBN

Yemisi Izuora

The Central Bank of Nigeria (CBN), has disclosed that top10 exporters in the country exported non-oil goods with monetary valued of  $100.88m in November 2020.

This was contained in its latest monthly economic report.

The CBN report read, “Estimates of export proceeds of the top 10 non-oil exporters for November 2020 was $100.88m.

“A disaggregation revealed that Olam Nigeria Limited topped the list with a value of $26.65m or 17.1 per cent of the total, from the export of cocoa beans, cashew nuts, as well as sesame seeds to Turkey and China.

“The second major non-oil exporter was Starlink Global and Ideal Limited also; with an export value of $16.49m (10.6 per cent), from the export of raw cocoa beans, raw cashew nuts, shea nuts, as well as sesame seeds to Malaysia.

“The third major non-oil exporter was British American Tobacco Nigeria Limited, at $12.57m (8.0 per cent), realised from the export of cigarettes to Liberia, Guinea, Ghana, Cameroun, Cote d’Ivoire, as well as the Niger Republic.

“The fourth major non-oil exporter was Indorama Eleme Fertilizer and Chemicals Limited, with a value of $9.82m (6.3 per cent), realised from the export of urea, fertilisers and also agronomy services to Turkey and China.”

It added, “Tulip Cocoa Processing Limited, with an export value of $7.66m (4.9 per cent) realised from the export of cocoa liquor, butter and cake to The Netherlands was placed the fifth position.

“The sixth, seventh, eighth, ninth, and tenth positions were occupied by Mamuda Industries Nigeria Limited; Metal Recycling Industries Limited; AAK Nigeria Oils andFats Limited; Armajaro Nigeria Limited; as well as Valency Agro Nigeria Limited, respectively.

“These companies earned $7.21m (4.6 per cent); $6.66m (4.3 per cent); $5.73m (3.7 per cent); $5m (3.2 per cent); as well as $3.07 million (2.0 per cent), respectively.”

The CBN report said they exported leather; aluminum; vegetable oils; and fats; cocoa beans; as well as dry pure prime pressed cocoa butter to India; Saudi Arabia; Malaysia; and United States, respectively.

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