Potentials for diversifying Nigeria's non-oil exports to Non-traditional Markets

A. Osuntogun, Edordu C.C. and Oramah B. O.

Working Papers from African Economic Research Consortium

Abstract: Prior to the 1970s, agricultural exports were Nigeria’s main sources of foreign exchange. During this period, Nigeria was a major exporter of cocoa, cotton, palm oil, palm kernel, groundnuts and rubber, and in the 1950s and 1960s, 3% – 4% annual output growth rates for agricultural and food crops were achieved. Government revenues also depended heavily on taxes on those exports. Thus, during the period, the current account and fiscal balances depended on the agricultural sector.

Date: 1997-11
Note: African Economic Research Consortium
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