The Federal Government has reaffirmed its commitment to transforming Nigeria’s cashew industry into a globally competitive, value-added sector, warning that the country continues to lose significant economic value as more than 85 percent of its annual cashew production is exported in raw form.
The commitment was reiterated on Wednesday at the stakeholders’ validation workshop for the Nigeria Cashew Industry Roadmap in Abuja, where the government unveiled a strategic blueprint aimed at expanding local processing, attracting investment, creating jobs and boosting non-oil exports.
Speaking at the event, John Enoh, Minister of State for Industry, represented by Chris Osa Isokpunwu, Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, said the roadmap would reposition the cashew industry as a major contributor to industrialisation and economic diversification.
He noted that although Nigeria produces between 300,000 and 350,000 metric tonnes of raw cashew nuts annually, the country’s inability to process the commodity locally has denied it substantial export earnings and employment opportunities.
“The Roadmap provides a clear strategy for expanding local processing, increasing farmers’ incomes, attracting investments, creating jobs for women and youth, and strengthening Nigeria’s position in regional and global markets,” he said.
