Stakeholders Urge Nigeria to Shift Focus from Raw Exports to Agro-Processing

At the recent FirstBank Agric & Export Expo held in Lagos, stakeholders from the agriculture and financial sectors underscored the urgent need for Nigeria to pivot from exporting raw agricultural commodities to focusing on processing and adding value to its farm produce. This strategic shift is seen as essential not only for boosting export earnings but also for creating jobs and reinforcing domestic industries.

Chief Executive Officer of Greenview Fertilizer Corporation, Vishwajit Sinha, emphasized the economic implications of exporting raw materials without processing them. He noted, “If you export your raw material, then you are exporting all the jobs. And if you import the finished product, then you are importing poverty.” Sinha highlighted the stark contrast between the global market for processed products, such as chocolate and cocoa, which stands at approximately $150 billion, and the mere $10–12 billion for raw cocoa exports.

According to Sinha, these figures represent significant opportunities for the Nigerian government to capitalize on value addition in agriculture. “These are the low-hanging fruits our government can take and say, ‘Let us do more value addition.’ If you do the value addition, that will not only create jobs, but at the same time, your export and processed food export will become high,” he remarked.

Additionally, Mahdi Tahir, an economist at Wilmar Agribusiness Nigeria Limited, pointed to several challenges hindering Nigeria's agricultural research and production capabilities. He cited policy inconsistency, inadequate funding, and bureaucratic hurdles as significant barriers that need to be addressed to unlock the sector's potential. The consensus among stakeholders is clear: enhancing Nigeria's agro-processing capabilities is vital for both economic growth and job creation.