Nigeria earned N14 billion from exporting raw cashew in the last one year

Nigeria earned N14 billion from exporting raw cashew in the last one year, the National Cashew Association of Nigeria (NCAN), has said.

The association noted that the earnings could be higher if the Federal Government and subnational levels invested in the sector and supported local processing of cashew.

NCAN National President, Prince Ojo Ajanaku, stated this during a chat with reporters ahead of the 16th edition of the Cashew Conference this month.

cashew

He said: “We hope to grow to over a million metric tonnes in the next four or five years. Nigeria is presently doing more of export of raw cashew nuts because we don’t process more of it. It is generally a problem in Africa, not only in Nigeria.

“We are not processing, but we are exporting raw cashew nuts, which gives us a lot of income when we talk about foreign earnings. This is second to sesame seed, when you talk about foreign earning generations. We got about 14 billion naira in export. We only had challenges in exporting during the time of Apapa gridlock.”

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