BAT, Olam, Indorama top 100 non-oil exporters in 2017 – CBN
British American Tobacco, Olam Nigeria and Indorama Eleme Fertilizer & Chemicals Limited were three top non-oil export performers in 2017, according to the Central Bank of Nigeria (CBN) annual report released on Wednesday.
British American Tobacco was first on the list, exporting various forms of cigarette valued at $145.48 million to Liberia, Guinea, Ghana, Cameroun, Cote D’ivoire and Niger.
Second on the list is Olam Nigeria, which exported sesame seeds (Dhs) and fermented cocoa beans worth $110.892 million to India, Netherlands, Poland, Syria, United Kingdom, Singapore, Turkey, Jordan, Poland, and Japan.
Next is Indorama Eleme Fertilizer & Chemicals Ltd, which exported $69.815 million worth of granular urea in bulk to Uruguay, Brazil and Argentina.
Indorama Eleme Fertiliser & Chemicals Limited recently got $1 billion from the International Finance Corporation (IFC) for the construction of a new fertiliser plant in Nigeria.
That is not all as Atlantic Shrimpers Limited shipped out $38.397 million worth of sea frozen shrimps and crabs to the Netherlands, China (Taiwan), United States of America and Vietnam.
Tulip Cocoa Processing Limited is next, exporting cocoa cake, pure prime pressed and cocoa butter worth $32.60 million to Netherlands, Mexico and Spain.
De-United Foods Industries Limited gave a good account of itself, exporting $30.568 million worth of Indomie and Minimie noodles to Ghana, Cameroon and the United States of America.
As of 2013, De-United had been exporting Indomie noodles worth close to $30 million to the US, BusinessDay gathered.
The CBN report further shows that Dangote Cement Plc was also a top performer in 2017, exporting $21.496 million worth of grey ordinary Dangote Portland Limestone Cement (42.5R) to Niamey, Niger Republic, Togo and Ghana.
“Beside our continuous expansion, we also export to counties like Ghana, Benin and Togo. These are sources foreign exchange for our dear nation. Where ever we operate we operate as economic partners because we add value to the economy by creating employment,” Joseph Makoju, group managing director of Dangote Cement Plc, said on July 4 during a plant facility tour by officials of the Standards Organisation of Nigeria (SON).
Dangote is followed by Rubber Estates Nigeria Limited, which exported technically specified natural rubber (tsnr) and processed renl 20 estimated at $20.392 million to Spain, France, Italy, Poland Spain and Singapore.
Guinness Nigeria Plc is 16th on the list, exporting Malta Guinness and Guinness FES valued at $15.06 million to the United Kingdom, Ghana and Cameroon.
Beta Glass also gave a good showing, shipping out bottles estimated at $14.134 million to Sierra Leone, Ghana, Liberia and Cape Verde.
Beta Glass’ 2016 financial statement showed that the company made N1.913 billion foreign exchange gain that year owing principally to its export sales focus to Cameroon, Cape Verde, Gambia, Ghana, Guinea, Liberia and Sierra Leone.
“Despite the high input costs and pressure on the availability of foreign exchange, your company was able to effectively manage the finance income/ costs with overall lower average borrowings compared to the previous year,” Abimbola Ogunbanjo, chairman of Beta Glass Plc, said at an annual general meeting in July 2017.
Flour Mills Of Nigeria is 19th on the list as it exported recycled polypropylene black, wheat bran pellets, dried raw cashew nuts and plastic pvc valve bags to the United States Of America, Morocco and Vietnam.
Friesland Campina Wamco Nigeria exported $3.87 million worth of Full Cream Milk Powder Peak (12x400g), Full Cream Unsweetened and Evaporated Peak Milk (96x30g) to Ghana and Sierra Leone.
“As a company, we will continue lead in steering economic solutions in the dairy sector and will continue to play a key role in the on-going efforts to improve and maximise the potentials of dairy farming in Nigeria,” Ben Langat, managing director of FrieslandCampina WAMCO Nigeria PLC, said at Dairy Farmers’ Day held at Iseyin , Oyo State, in December 2017.