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July 25, 2024

Nigeria’s Ginger Export Hits N10bn at 17% Growth in Q2

The National Bureau of Statistics (NBS) has reported that Nigeria’s revenue from ginger exports increased by 17 percent to hit N10 billion in the second quarter of 2023 compared to N4.6 billion in the same period of 2022.

According to the data from NBS, the country’s export value of the crop has been skyrocketing with ginger exports increasing dramatically from N1.13 billion in Q2 2018 to N1.24 billion in the same period of 2019.

It was gathered that ginger exports increased in Q2 2020 from N1.57 billion to N3.75 billion in 2021, and the growth was maintained in 2022 as export earnings from the crop grew to N4.6 billion.

In Q2 2023, it doubled to N10 billion.

Mikah Adamu Sule, deputy president of the National Ginger Association of Nigeria (NGAN), said: “Some of the improvements realised in foreign exchange earnings owe to the improvements made by ginger farmers to make the crop cleaner and more attractive for exports.”

However, Nigeria being the largest producer of ginger in Africa, and the second largest in the world after India, is reaping only a modest fragment of the $3 billion global ginger market, despite its record N10 billion export value in Q2, its highest in six years.

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