Nigerian cashew processing challenge lingers despite $250m export revenue in 2022
By Business AM
Nigeria generated over $250 million from cashew export in 2022,but processing of the commodity remained a persistent issue as only ten per cent of about 250,000 metric tonnes was processed within the year.
Mohammad Abubakar, the minister of Agriculture and Rural Development, stated this recently at the flag-off ceremony of Nigeria Cashew Day and Cashew Season which was held in Benin City, Edo State, themed; “Industrializing the Nigeria Cashew Sector through Inclusive Policies”.
Abubakar, who was represented by Ernest Umakhihe Abubakar,permanent secretary of the ministry, said Nigeria though Nigeria is aiming to generate $500 million from cashew export in 2023, the processing gap needs to be addressed urgently.
“This trend must stop and the only way to stop this is through industrialisation 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,” he said.
Godwin Obaseki,Edo State Governor, who was represented by Stephen Idehenre, the commissioner of Agriculture and Food Security, said the government hopes that the event will bring in more investors, spread knowledge, and bring our cashew industry together for the benefit of the state economy.
Ojo Ajanaku,the national president, National Cashew Association of Nigeria (NCAN), while delivering his speech, said at present Nigeria is said to be the 5th largest producer of cashew in the world with Ivory Coast taking the lead. He noted that the country’s production and revenue capacity can be improved with more processing activities through improved industrialisation.
On his part, the National President of the Agricultural Commodity Association of Nigeria (ACAN), Dr Victor Iyamu, encouraged increased participation in the agriculture sector to enhance productivity and address food insecurity.