How cashew exports can annually attract $3b, says Association

The Cashew Association of Nigeria has set plans to boost production to $3 billion through raw exports annually, as an effort to prioritize value addition for a premium products is inclusively considered.

The President of the National Cashew Association of Nigeria (NCAN), Dr. Ojo Joseph Ajanaku made this known at a press conference held yesterday in Abuja, where he stated that the country can unarguably produce 2-4 metric million tons annually within five years, as opposed to the present official figure of 400,000 metric tons.

Although Ajanaku expressed his disappointment about the reliability of our national figures, pointing out that " Our current statistics are the shadow of reality as substantial volume evades documentation and export proceeds often bypass official channels."

Targeting a conservative 2 million tons at the current global price according to Ajanaku would generate approximately $3 billion for raw nuts export alone, stressed that the need for both federal and states government to prioritize cashew value addition was very necessary.

The NCAN president expressed the plan to host a national cashew day conference from 22nd to 24th  January in Abuja to achieve production upscale from 400,000 metric tons to 2-4 million within 5 years.

" The 2026 conference is a decisive step. Our objective is to forge a cohesive national policy that will attract investment, align stakeholders, and ensure the sustainable growth of a sector that can significantly bolster our national economy.