Natural rubber was one of Nigeria’s main exports before independence and the discovery of crude oil. Today, Nigeria is at the bottom of the production league table (12th largest producer) with approximately 160,000 tonnes or 1.1% of global output. Ivory Coast with only 13% of Nigeria’s population and 30% of its land mass produces 360,000 tonnes.
As Nigeria seeks to diversify its economy away from oil, rubber is a possible low hanging fruit, which may prove handy in the new dispensation.
The attached bulletin addresses these and other issues in the domestic and global commodities market.
Enjoy your read!