Apart from petroleum, Nigeria’s other natural resources include natural gas, tin, iron ore, coal, limestone, niobium, lead, zinc and arable land. The oil and gas sector accounts for about 10 per cent of gross domestic product, and petroleum exports revenue represents around 86 per cent of total exports revenue. Its currency is the naira.
Nigeria’s solid minerals export dropped by 80.1 per cent or N12.76 billion to N3.16 billion in the first half of 2020 compared to N15.88 billion recorded in the same period in 2019.
Data obtained from the National Bureau of Statistics, NBS, indicates that exports in the solid minerals sector in Q1 2020, was N1.60 billion, while Q2 export was N1.56 billion.
Between 2016 and 2018, the country’s total agriculture exports was driven by export of sesame seeds, fermented cocoa beans, cashew nuts, ginger, crude palm kernel oil, soya beans, frozen shrimps and prawns, among other commodities. Food drives the world; apart from clean water, access to adequate food is the primary concern for most people on earth.