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‘Nigeria earns $250m cashew export’

Dr. Mohammad Abubarkar, the Minister of Agriculture and Rural Development, has said Nigeria earned $250 million from cashew nuts exports last year. THE NATION reports.Information Guide Nigeria
He expressed displeasure that out of the 250,000 metric tonnes of cashew nuts produced in Nigeria yearly,  only about 10 percent was being processed locally.

Abubakar, who was represented by the ministry’s Permanent Secretary, Dr. Ernest Umakhihe, spoke on Tuesday in Benin during the launch of Nigeria Cashew Day and the kick-off of cashew season, with the  theme:” Industrialising the Nigeria Cashew Sector Through Inclusive Policies.


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He said: “At the end of 2022, cashew nuts exported from Nigeria generated over $250 million, which accounted for about 10 percent of the country’s agricultural export.

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Cashew export is expected to fetch Nigerian farmers about $500 million by 2023.

“I implore you to continue working together in harmony, as this is the only way you can make a positive impact towards sustainable development of the cashew industry and ensuring its contribution in achieving the overall goal of this administration’s economic diversification agenda.NYSC portal

“In Nigeria, cashew is increasing in its importance as an export-oriented cash crop since the 1990s. It has become an important source of non-oil export earnings.

“Cashew has become a commercial crop in Nigeria. It is cultivated in 27 states, including the Federal Capital Territory (FCT).

“In realisation of the importance of cashew, the Federal Government, through the Federal Ministry of Agriculture and Rural Development, listed cashew as a priority crop to be promoted, under the Import Substitution Strategy of the present administration led by President Muhammadu Buhari.

“Out of the 250,000 metric tonnes of cashew nuts produced in Nigeria, only about 10 percent is processed, while Raw Cashew Nuts (RCN) are sold to cashew buying agents for export and cashew apple eaten raw, and the rest wasted, because of inadequate facilities to process other cashew derivatives, for example, cashew juice, jam, and ice cream, among others. This means exporting Nigerian jobs to other countries.”JAMB Result

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Goodnews

Essien, Goodnews is a gruaduate of Communication Arts, University of Uyo, Uyo; Currently working at Infoguide Media as a news writer.

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