The National Cashew Association of Nigeria (NCAN) says it aims to achieve a 70 per cent improvement of local cashew value addition.
The National Secretary -General of the group, Mr Sotonye Anga, said on Friday in Lagos that it was pertinent to improve on the value addition of this cash crop to increase its economic value.
“Basically, we need to understand that about 300,000 families in Nigeria depends on cashew for their livelihood but only 10 per cent is being processed locally.
`”When we consider the cashew value chain as it is today, we are concerned that only 10 per cent of the cashew grown in Nigeria is processed locally.
“Presently, we produce 260 metric tonnes of cashew annually, but only 10 per cent is being processed locally.
“If we can transform the value addition from 10 per cent and improve to 70 per cent, that would be a major game changer in the cashew sector.
“As it will translate to more job creation, more prosperity for the people and more foreign exchange earnings for the country,” Anga said.
The association further called for government’s support to achieve this feat and also to provide an enabling environment to boost the cashew industry.
He said the improvement of the cashew value chain would result in more job creation and increase of foreign exchange earnings among other benefits.
“We need to increase value addition from about 10 to 70 per cent and this is where government support comes in, in terms of provision of infrastructure and an enabling environment for the sector.
“In the last 10 years, we have positioned the cashew industry to be focused on job creation, poverty reduction and as a major foreign exchange earner.
“We have positioned cashew as a major crop to diversify the economy from crude oil dependence. That is where we want the cashew industry to be.
“So, that is where we are strategically focusing on now, we want to increase value addition in cashew sector,” he said.
