The Minister of Agriculture and Rural Development, Dr. Mohammed Abubakar, announced that cashew nut exports from Nigeria generated over $250 million in 2022. He projected that this figure could reach approximately $500 million for Nigerian farmers in 2023. This statement was made during the Nigerian Cashew Day and the commencement of the cashew season, which took place on Tuesday in Abuja. Dr. Abubakar was represented by the Permanent Secretary of the Ministry, Dr. Ernest Umakhihe, who emphasized the growing significance of cashew as an export-oriented cash crop. Since the 1990s, cashew has become a vital source of non-oil export earnings in Nigeria.
According to the minister, cashew exports are estimated to account for over 10% of the country’s GDP based on 2022 data. The crop is cultivated in 27 states, including the Federal Capital Territory, and is increasingly recognized as a commercial crop. In acknowledgment of its importance, the Federal Government has prioritized cashew through the Federal Ministry of Agriculture and Rural Development. The crop is being promoted under the Import Substitution Strategy of the current administration led by President Muhammadu Buhari.
Dr. Abubakar highlighted that the cashew value chain is one of the crops being supported under the Ministry’s Value Chain Programme. Over the years, the Ministry has undertaken various initiatives to foster the growth of this value chain. These initiatives include the distribution of improved seeds and seedlings to cashew farmers at no cost, the establishment of cashew cottage industries in several states, and the provision of agrochemicals, growth enhancers, carbon-free jute bags, and knapsack sprayers. Additionally, the Ministry has supplied water pumps to cashew farmers and conducted capacity-building training sessions, along with sensitization exercises.
Ojo Ajanaku, the President of the National Cashew Association of Nigeria (NCAN), noted that Nigeria is steadily becoming an export hub, with the sector contributing to the country’s foreign exchange trading by at least 11 percent over the past three years. He stated that this growth indicates the sector’s potential to drive national revenue generation, create jobs, and diversify the economy. Ajanaku also mentioned that more than 3 million people in Nigeria, particularly women, have become cashew producers, actively contributing to the sector alongside their male counterparts. NCAN’s long-term goal is to transform Nigeria from a low-priced commodity producer into a reliable supplier and exporter of high-quality cashew products, while also adopting indigenous innovations and policies to further advance the sector.
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