Nigeria
U.S. Trade with Nigeria in 2023
Export Market Rank
#52 Among U.S. Agricultural Export Markets
Total Export Value
$228.81 Million
3-Year Average
$517.31 Million
Compound Average Growth
-12.65% (2014-2023)
Total Export Value 2014 - 2023
Export Value by Commodity 2023
Top 10 Exports to Nigeria in 2023
| Commodity | Total Value (USD) | Total Volume (Metric Tons) | 10-Year Average Value (USD) | 10-Year Growth |
|---|---|---|---|---|
| Wheat | $146.78 Million | 406,569 | $397.07 Million | -79% |
| Food Preparations | $24.35 Million | 4,966 | $18.27 Million | 105% |
| Ethanol (non-bev.) | $20.57 Million | --- | $43.59 Million | -44% |
| Coarse Grains (excl. corn) | $10.85 Million | 31,164 | $1.46 Million | 72209% |
| Essential Oils | $4.8 Million | 466 | $3.01 Million | 138% |
| Wine & Related Products | $4.7 Million | --- | $14.85 Million | -78% |
| Distilled Spirits | $3.05 Million | --- | $2.32 Million | 65% |
| Tobacco | $2.28 Million | 879 | $5.77 Million | -81% |
| Dairy Products | $2.15 Million | 1,105 | $6.32 Million | -83% |
| Other Intermediate Products | $1.82 Million | 745 | $6.24 Million | -5% |
Data and Analysis
Nigeria is one of Africa's largest retail consumer markets, however in 2023-2024, difficult economic conditions and changing government policies have taken a bite out of the country's food retail prospects. This report provides an overview of Nigeria’s retail sector, including market entry strategies, structure, distribution channels, and best export prospects.
Imports of wheat, rice, and corn in marketing year (MY) 2024/25 are estimated to increase as the economy stabilizes, inflation decreases, and the government implements a temporary zero-duty import policy for the afore-mentioned commodities until December 31.
Attaché Report (GAIN)
Nigeria: Government Implements Temporary Import Tax Waivers for Selected Agricultural Products
On August 14, Nigeria’s Customs Service publicly released implementation guidelines that temporarily waives all import (and associated levy) taxes for rice, sorghum, millet, corn, wheat, and beans until December 31, 2024. This policy was announced in mid-July by the Minister of Agriculture to “to ameliorate food inflation in the country.”
News and Features
USDA and USAID will deploy $1 billion in Commodity Credit Corporation funding to purchase U.S.-grown commodities to provide emergency food assistance to people in need throughout the world.
News Release
Biden-Harris Administration Invests $178 Million in International Food for Progress Projects
USDA will invest $178 million in seven international development projects on four continents to support U.S. government priorities including promoting climate-smart agriculture, facilitating trade and addressing the root causes of migration in Central America.
Private exporters reported the following activity: 132,000 MT of soybeans for delivery to China during MY 2022/2023 and 120,000 MT of hard red winter wheat for delivery to Nigeria - 60,000 MT is for delivery during MY 2021/2022 and 60,000 MT is for delivery during MY 2022/2023.