The President, National Cashew Association of Nigeria, NCAN, Dr Ojo Joseph Ajanaku, has said that cashew value chain can generate $2.4 billion annually considering the huge potential Nigeria has in economic trees to change the narrative in foreign exchange earnings.
Speaking with New Telegraph, Ajanaku said the cashew value chain was a money spinning venture for farmers and the country if it is given the needed attention based on the 22 cashew producing States in the country, it would go a long way to also address unemployment and other vices.
According to him, the association is building a national cashew policy to increase production, and currently the youth and women are trained in the value chain as well. He said: “The cashew value chain can give to Nigeria $2.4 billion annually.
What do we need to do? We just need to scale up our production. We have the land, people, and largest black nation in the world.
“We are to use the arable land and plant cashew, and by the time we produce cashew to two million metric tonnes which we can do in the country we would have generated enough foreign exchange for the country.
“We have a projection, and that is why we are building cashew nurseries, our target is to hit 1 million tonnes annually and that is we are looking at spreading Ogbomosho aariety in Oyo State across because it is widely accepted.
“Also in Kwara because it is high yield and we want to spread it round the country so in one hectare of land, you can harvest as high as 800-1000kg. And this is our projection, and if we are able to hit it we are making another 500kg, we will make it 1,500kg, and in no time we will be able to get to 2 million metric tonnes which is our full target.
“We are trying to promote that. We have collaboration with the Federal Ministry of Agriculture and Food Security, and we are building a National Cashew Policy to increase production.
We are working with international development partners as well.” According to the NCAN boss, there are over 13 byproducts from cashew including, cashew syrup, cashew wine, cashew nutshell liquid, which is more expensive than ethanol, and it is a job spinner, and all these are not being harnessed in the sector.
“Cashew only demands labour for two years or little more because it won’t produce after three years it can produce and would live for 50 years and above”, he said. On the current foreign exchange generated by the cashew value chain, he said:
“According to the Central Bank of Nigeria, CBN, it is around $300 million and $400 million, which is very low from cashew. We mostly export the raw cashew, and that is what Nigerians present to collect the Export Expansion Grant, EEG, from the Federal Government.”
He said the major cashew belts in Nigeria include Kogi, Kwara, Edo and Ogun. “In the north now, we have Nasarawa, and we are trying to promote Benue because of the proximity with Nasarawa and Kogi States coupled with the kind land they have in Benue State.”
