Groundnut oil exports from Nigeria: data, top buyers and prices
In 2024, Nigeria exported groundnut oil worth $4.6 million (2.7 thousand tonnes). Its share of world exports was 1%. Value rose 89% on 2023. Over 2017-2024 the trade grew strongly, by about 156% a year on average. The peak in this period was 2021, at $8.2 million.
Public statistics, latest complete year (2024). Values in US dollars. Page updated .
Exports by year, 2017-2024
Hover or tap a year for detail.
Year by year
| Year | Value | Quantity |
|---|---|---|
| 2024 | $4.6M | 2.7K t |
| 2023 | $2.4M | 1.1K t |
| 2022 | $5K | 9 t |
| 2021 | $8.2M | 5.7K t |
| 2020 | $3.8M | 2.5K t |
| 2019 | $414K | 322 t |
| 2018 | $1K | 1 t |
| 2017 | $6K | 9 t |
Where Nigeria exports groundnut oil to
China alone took 100% of it. Among the main buyer markets, China grew fastest (+90% on the year before).
| Destination | Value | Share |
|---|---|---|
| China | $4.6M | 100% |
| Benin | $4K | 0.1% |
| Niger | $3K | 0.1% |
| Slovenia | $2K | 0% |
| Canada | $0K | 0% |
| Iceland | $0K | 0% |
| South Africa | $0K | 0% |
| Austria | $0K | 0% |
| Ireland | $0K | 0% |
| Morocco | $0K | 0% |
Product types under HS 1508
| 1508.10 | Vegetable oils: ground-nut oil and its fractions, crude, not chemically modified | 100% |
| 1508.90 | Refined peanut oil | 0.1% |
Codes and full descriptions: HS heading 1508.
Average export price per kg
The average declared value was about $1.68 per kg, close to the world average of $1.84.
Declared value divided by weight, all 2024 shipments. Prices per shipment and per company are in EximDataX.
Who is behind these numbers in Nigeria?
The shipment records behind Nigeria groundnut oil exports (HS 1508): companies, dates, quantities and declared values.
Shipment records are in the platform
Tell us what you trade and we will show you the latest records on a live call.
Direct customs feed: shipment-level records from the official customs source.
Source: CEPII BACI (reconciled UN Comtrade data), HS 2017 edition, release 202601, Etalab Open Licence 2.0. Annual values in US dollars at the customs border; quantities in tonnes where reported. HS 1508: Ground nut oil and its fractions; whether or not refined, but not chemically modified.
Common questions
What is the value of groundnut oil exported by Nigeria?
Nigeria exported groundnut oil worth $4.6 million in 2024, the latest year with complete public data, about 2.7 thousand tonnes. That ranks it 16th of 105 countries worldwide, with 1% of world exports. The value was up 89% on 2023.
Which countries buy groundnut oil from Nigeria?
China was the largest buyer with 100% of the value ($4.6 million), followed by Benin (0%) and Niger (0%). The top three together account for 100%, out of 11 buyer countries in total. China grew fastest among the top ten, up 90% on the year.
What is the average export price of groundnut oil per kg?
The average declared export value was about $1.68 per kg in 2024, 9% below the world average of $1.84 per kg. Because it averages all grades and sizes, treat the figure as a market benchmark, not a price offer.
How have exports of groundnut oil from Nigeria changed since 2017?
Exports went from $6 thousand in 2017 to $4.6 million in 2024. The peak was 2021 at $8.2 million. Over 8 years the average was $2.4 million a year.
What is the HS code for groundnut oil?
The HS code for groundnut oil is heading 1508. In Nigeria the largest six-digit codes were 1508.10 (100% of the value) and 1508.90 (0%).
How can I find the companies behind this trade?
The totals here are public statistics; the company-level detail sits in EximDataX, which has a direct customs feed for Nigeria. Tell us your product to see it live.
Same product, other countries
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