Home   >   NEWS & VIEWS   >   News

  • Only 10% of exported cashew from Nigeria processed – FG 01/30/2023

    Jan 30th, 2023

    THE federal government yesterday in Benin City, Edo State said only ten percent of the about 250,000mt of cashew exported from Nigeria in 2022 were processed but that the entire export generated over $250 million. The Minister of Agriculture and Rural Development, Dr Mohammad Abubakar stated this at the launch of Nigeria Cashew Day and Cashew Season flag-off with the theme “Industrializing the Nigeria Cashew Sector through Inclusive Policies” Represented by the Permanent Secretary of the Ministry, Dr Ernest Umakhihe Abubakar said Nigeria is targeting $500 million from export of cashew in 2023. He said “At the end of 2022, cashew nuts exported from Nigeria generated over $250million (accounting for about 10% of the country’s agricultural export) and cashew export is expected to fetch Nigerian farmers about $500million by 2023. “This trend must stop and the only way to stop this is through industrialization of the sector, bridging the skill gap among our cashew farmers, increasing the processing capacity of Nigerian Cashew Industry and harnessing capacities of other cashew derivatives which has the capacity of creating about 500,000 jobs for our youths and women in both the rural and urban centers.” FG added. Edo state governor, Godwin Obaseki, represented by the Commissioner of Agriculture and Food Security, Hon. Stephen Idehenre, said government hope is to see the event attract more investors, impact knowledge , and harmonise our cashew industry for the gain of the state economy. In his speech, the National President, National Cashew Association of Nigeria (NCAN), Prince Ojo Ajanaku, said at present Nigeria is said to be the 5th largest producer of cashew in the world with Ivory Coast taking the lead. In his comment, the National President of Agricultural Commodity Association of Nigeria (ACAN), Dr Victor Iyamu, said all must go back to agriculture to enable us to solve the food issue in Nigeria. He disclosed that he is proud to be a farmer.