Nigeria's Cashew Industry Earns $400m But Stakeholders Call It Underperforming
Nigeria's cashew industry contributes significantly to the country's non-oil revenue, earning over $400 million in exports. However, stakeholders believe the sector is underperforming and has the potential to deliver greater economic value.
The President of FACAN, Sheriff Balogun, highlighted the need for increased investment to boost output, enhance value addition, and create more employment opportunities. Despite Nigeria being a major cashew producer, the processing capacity remains low, hindering the sector's growth.
President Ibrahim Sanfo emphasized the importance of government support to expand local processing and consumption.
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