NIGERIA – Nigeria’s Federal Ministry of Industry, Trade and Investment has reaffirmed its commitment to strengthening the country’s cashew sector by working closely with the National Cashew Association of Nigeria (NCAN), relevant government agencies, and the Organised Private Sector.
The initiative aims to create a conducive environment for investment, enhance market linkages, and provide technical support to improve production, processing, and marketing capabilities.
Minister of Industry, Trade and Investment, Jumoke Oduwole, emphasized the government’s focus on supporting smallholder farmers through capacity-building initiatives, market access programs, and value-addition strategies.
She noted that improving the competitiveness of Nigeria’s Raw Cashew Nuts (RCN) and other cashew products in international markets remains a priority.
“The major focus has always been to support smallholder farmers by building their capacities on best practices, which encourages market access, supports value addition and processing, and ensures that RCN and other cashew products are highly competitive internationally,” Oduwole said.
She urged stakeholders, particularly NCAN members, to collaborate closely with the government to drive the sector’s growth.
However, she expressed concern over Nigeria’s continued exportation of raw cashew nuts rather than processed cashew kernels, which limits the country’s ability to maximize earnings from the industry.
Lagos State Governor, Babajide Sanwo-Olu, commended NCAN for its efforts in advancing the cashew industry, noting that the association has played a vital role in transforming the sector into a key driver of economic diversification.
He highlighted the growing global demand for cashew, which is increasing by an average of 7–10 percent annually due to rising interest in healthy snacks, plant-based diets, and high-value products such as Cashew Nut Shell Liquid (CNSL) oil.
“Reports show that the export price of cashew kernels from India and Vietnam to the EU and America is roughly 3.5 times higher than the price paid to Nigerian cashew farmers after semi-processing. When roasted in Europe or America, the value increases to about 8.5 times more than the farm gate price in Nigeria,” Sanwo-Olu said.
He emphasized the need for policies specifically tailored to the cashew industry, pointing out that cashew has the potential to contribute over US$3.7 billion annually to the Nigerian economy.
He called for a holistic approach to developing the cashew value chain, focusing on increasing production and significantly enhancing domestic processing.
Nigeria, the fourth-largest cashew producer in Africa and the sixth-largest globally, produces an estimated 350,000 metric tons of cashew nuts annually but processes less than 10 percent of its output.
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