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From Okwe Obi, Abuja
National Cashew Association of Nigeria (NCAN), has said Nigeria could generate more than $10 billion annually from cashew farming, exportation, and create over 50 million jobs if properly developed.
Its President, Ojo Joseph Ajanaku, during a press briefing yesterday in Abuja, said on his part, NCAN would hold this year’s National Cashew Day Conference, to facilitate direct engagement with the Federal Government and stakeholders.
Ajanaku said Nigeria remained far below its potential in the global cashew market despite having about 92 million hectares of arable land, noting that the country trails Ivory Coast, which has just 32 million hectares.
According to him, Nigeria currently produces between 400,000 and 500,000 metric tonnes of cashew annually, generating about $700 million.
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He said: “Nigeria is part of the global economic competition. We need a national cashew policy that reflects our own interests, so we can own the industry rather than remain slaves to what we produce.”
He said raising output to two million tonnes and prioritising local processing would significantly increase earnings.
He lamented the absence of processing factories in major producing states like Kogi, saying this forces young people to migrate to cities in search of jobs.
“If we process where we produce, jobs will return to rural communities,” he said.
