The document analyzes opportunities for Nigeria to increase non-oil exports to the UK. It finds that while Nigeria imports over $350 billion worth of goods from the UK annually, its non-oil exports to the UK are only about $14 million. However, the UK imports many raw materials and commodities that Nigeria produces, such as gems, plastics, wood, hides, starches, and resins. Increasing exports of these goods could help address Nigeria's large trade deficit with the UK.
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UK Import Market for Nigerian Products
1. Turning the United Kingdom
into Nigeria Export Market
National Situation Analysis and Global
OpportunitiesDr. Olayiwola Oladapo 2015 1
2. Table of Content
Dr. Olayiwola Oladapo 2015 2
Nigeria’s Current Non- Oil Basket Products- As is 3
Export Opportunities for Nigerian Products in the UK 11
5. Nigeria’s Key Non Oil Export Products
with Significant Economic Value
• Using the most recently available Central Bank
of Nigeria 2013 data, the key Non- Oil Exports
that added significant economic value to
Nigeria’s total non-oil export revenue can be
broadly classified into 5 major categories based
on their relative contribution to total non-oil
revenue receipts.
Agricultural
and By
Products
Cocoa and
By
Products
Mineral
Products
Finished
Leather
Other
Exportable
Nigerian
Products
$520,799,415.03 $514,097,045.46 $284,174,637.68 $539,814,028.53 $412,623,150.99
$2,271,508,277.69
of Non-oil Exports
in 2013
23% 23% 12% 24% 18%
Dr. Olayiwola Oladapo 2015 5
6. Cocoa Export: Key
Products and Destination
Exported as the following;
1. Cocoa Beans
2. Cocoa Butter
3. Cocoa Liquor
4. Cake Cake
5. Cocoa Butter
Key National Export Products Key Destinations and Export Vol
Canada-25%
Germany-3%
Holland-66%
Spain-3%
USA-2%
23% of Total Non-Oil Exports in 2013
Dr. Olayiwola Oladapo 2015 6
7. Animal Leather: Key
Products and Destination
Exported as the following;
1. Goat & Sheep Suede
Leather
2. Finished Leather
3. Crust Sheep Leather
Key National Export Products
24% of Total Non-Oil Exports in 2013
Key Destinations and Export Vol
China/Hong Kong-40%
Italy-50%
Spain-2%
Dr. Olayiwola Oladapo 2015 7
8. Mineral: Key Products and
Destination
Exported as the following;
1. Reinforcing Steel
2. Aluminum Ingots
3. Copper Ingots
4. Tin Alloy
5. Lead Ingots
Key National Export Products
12% of Total Non-Oil Exports in 2013
Key Destinations and Export Vol
China-24%
Italy-2%
India-7%
Indonesia-2%
South Africa-2%
Thailand-2%
Japan-49%
Holland-7%
Burkina Faso-4%
Dr. Olayiwola Oladapo 2015 8
9. Agricultural & By Products:
Key Products and Destination
Exported as the following;
1. Hibiscus Flower
2. Sesame Seeds
3. Iroko woods
4. Cotton
5. Rubber
6. Ginger Slices
7. Wheat Bran Pellets
8. Seafrozen Swimming Crab Claw
9. Dairy Products
Key National Export Products
23% of Total Non-Oil Exports in 2013
Key Destinations and Export Vol
Puerto Rico-4%
Turkey-5%
Italy-10%
Finland-4%
Portugal-2%
Ghana -3%
India-3%
Mexico-14%
USA-5%
Germany-3%
Poland-1%
Japan-10%
Holland-7%
France-8%
China(Taiwan)-21%
Dr. Olayiwola Oladapo 2015 9
10. Other Nigerian Export Products:
Value of exports & Destination
18% of Total Non-Oil Exports in 2013
No Product Export Destination Value of Export (USD) % of Total Export
1 Dunhill King Size FF and Lights (C'ote D'ivoire Cigarretes) Ivory Coast 101,272,383.03 25
2 Ramapet PET Grade Ivory Coast 45,314,352.91 11
3 Noodles Onion Chicken Flavour 70g Ghana 34,859,742.50 8
4 Assorted Bathromm Slippers Togo 32,340,045.20 8
5 Fully Refrigerated Anhydrous Ammonia Mrorocco 22,588,849.41 5
6 Cosmestic& Medicament Chad 18,840,924.46 5
7 Guinness Fes-325ml UK 14,096,874.11 3
8 Vital Tomato Paste 70gms Satchet Benin 13,306,052.00 3
9 Rambo Aerosol Insecticide Gabon 12,702,936.58 3
10 Empty 60cl Harp Lager Green Bottles Cameroon 12,322,988.07 3
11 Assorted Polybags Chad 10,842,039.86 3
12 Assorted Eva Slippers Burkina Faso 10,509,031.86 3
13 Refined Sugar(Dangote) Ghana 10,495,427.25 3
14 Close Up Deep Action (Menthol fresh, Greeen & Red) Ivory Coast 10,393,753.60 3
15 Pet Preform Liberia 8,954,504.66 2
16 Full Cream Unsweatened Evaporated Milk Peak Sachets Ghana 8,954,488.00 2
17 Maggi Cube Togo 7,885,366.52 2
18 Assorted Polybags Chad 7,284,616.70 2
19 Pic Sacs Niger 6,257,460.00 2
20 Ramapet Polyethylene Terephthalate (PET) Polymers - Copolyme Grade Ivory Coast 5,813,170.00 1
21 Assorted Eva Slippers Central African Republic 5,422,629.32 1
22 Textile Fabrics (Wax Prints-100% cotton) Kenya 4,628,683.30 1
23 PVC Slippers Chad 3,864,359.44 1
24 Dettol Soap & Liquid Cameroon 3,672,472.21 1
Dr. Olayiwola Oladapo 2015 10
11. CURRENT TRADE BALANCE BETWEEN
NIGERIA AND THE UK & UK’S IMPORT
PROFILE
Export Opportunities for
Nigerian Products in the UK
Dr. Olayiwola Oladapo 2015 11
12. Trade Balance Between the UK and
Nigeria in 2013
Nigeria’s Non Oil
import from the UK
totaled over 350billon
Naira Plus
(N350,607,970,000.00),
Nigeria’s Non Oil
Export to the UK was
slightly over 2Billion
Naira -2,325,984,228
($14,096,874.11)
The UK going by current trade Statistics is not
a favorite destination for Nigerian Exports
Dr. Olayiwola Oladapo 2015 12
13. Export Opportunity that the Import
Profile of the United Kingdom Provides
Nigeria
• The United Kingdom is the 11th largest export economy
in the world and the 5th most complex economy
according to the Economic Complexity Index (ECI).
• In 2013, the United Kingdom exported $453B and
imported $628B, resulting in a negative trade balance of
$174B.
• It must import almost all its copper, ferrous metals, lead,
zinc, rubber, and raw cotton; most of its tin, raw wool,
hides and skins, and many other raw materials; and
about one-third of its food
Dr. Olayiwola Oladapo 2015 13
14. Products that the UK Import that presents
Export Opportunities for Nigeria
1. Gems, precious metals/coins-$35.4Billion(5.20%)
2. Plastics -$20billion (2.9%)
3. Wood-$7 Billion
4. Raw Hides excluding fur skins $348.2million
5. Modified Starches, enzymes$962.9million
6. Gums, Resins $234.4million
Slides 22-26 highlights the UK’s imports from other nations and the
Blue arrows are suggestive of the export opportunities for Nigeria
Dr. Olayiwola Oladapo 2015 14