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Nigeria's top exports in 2023 were heavily concentrated in mineral fuels and oil, accounting for over 91% of total exports valued at $55.6 billion[1][2].
Other major exports included fertilizers ($994.7 million), oil seeds ($797.5 million), cocoa ($759 million), fruits and nuts ($328.2 million), and aluminum ($280.5 million)[2]. At the four-digit HS code level, Nigeria's most valuable exported products were crude oil (80.6%), petroleum gases (10.5%), nitrogenous fertilizers (1.6%), cocoa beans (1%), and oil seeds (0.7%)[1]. Nigeria's exports are relatively inexpensive for foreign customers due to the lower value of the Nigerian naira compared to the US dollar[5].
Citations:
[1] https://globaledge.msu.edu/countries/nigeria/tradestats
[2] https://www.worldstopexports.com/nigerias-top-10-exports/
[3] https://oec.world/en/profile/country/nga
[4] https://www.linkedin.com/pulse/top-20-profitable-products-export-from-nigeria-make-global-limited-rpk7f
[5] https://www.tradeimex.in/blogs/top-10-exports-of-nigeria
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