Oct 11, 2018
WISHH staff recently confirmed the purchase of 31,000 MT of U.S. soybeans by the Nigerian agribusiness Agboola Farms Ltd.
The product will be utilized as meal for the poultry industry and oil for the local food industry. Tola Johnson, of Agboola Farms Ltd., indicated that the product has been well received by her customers and she looks forward to building relationships with U.S. industry and would like to purchase additional products to help fill local supply gaps. News of the sale was especially positive as it indicates that Nigeria is continuing to move past its recent economic recession, and is benefiting from measures taken to improve access to foreign exchange as well as other government initiatives.
For the year, Nigerian businesses have imported 42,383 MT of U.S. soybeans, which is a great improvement from the 0 MT imported in 2016 and 2017 during peak recession.