US supports project to enhance Nigeria’s cashew industry

The United States of America has shown its support for a project to enhance the growth of the Nigerian cashew industry, as it channels efforts into the development of the sector.

Selected stakeholders in the non-oil export sector would assemble in Lagos on Wednesday October 8, to chart a way forward for choice agricultural products of cashew in Nigeria.

Organised by the United States Agency for International Development (USAID), the Nigerian Expanded Transport and Trade (NEXTT) and the Nigerian Export Promotion Council (NEPC), the forum seeks to finalise prepared Cashew Export Promotion Strategy that would increase the contribution of the cashew industry to Nigeria’s non-oil exports through value-addition, quality improvement and market development.

Studies have shown that Nigeria’s raw cashew nuts are discounted in international market because of low peelability, poor quality and traceability arising from fragmented value chain.

Current mutual efforts from USAID, NEXTT and NEPC along with African Cashew Alliance (ACA) to process even 50 per cent of Nigeria’s cashew would create over 8, 500 new jobs and inject a positive multiplier effect worth N2 billion ($11 million) in the rural Nigerian economy.

Alf Monaghan, USAID chief of party, stated that the involvement of the ACA would add real value to the Nigerian cashew sector.

“ACA, as an international business association with more than 200 members in 46 countries worldwide, can make significant contributions to the achievement of the strategy in support of Nigerian cashew exports,” he said.

Chief executive officer of NEPC, Mr. Olusegun Awolowo, expressed hope that development agencies and international stakeholders would increase the market linkages for cashew nuts and kernel exporters, especially as value-added cashew export is in growing demand the World over.

The USAID, NEXIT and NEPC endorsed a Memorandum of Understanding earlier in the year USAID, NEXTT and NEPC to develop an implementable cashew export strategy as a tool for growing the crop in order boost the Nigerian economy with through additional income, as well as wealth and job creation.

According to the Food and Agriculture Organisation (FAO), Nigeria was the world’s largest producer of cashew nuts with shell back in 2010.