www.africa-agri-market.com - 🌰💰 Nigeria Could Earn $10B Annually from Cashew with Proper Policies & Investment — NCAN
Nigeria’s cashew industry holds the potential to generate up to $10 billion in annual revenue if the right policies, investments and value‑addition strategies are adopted, according to the National Cashew Association of Nigeria (NCAN).
NCAN leaders emphasize that Nigeria already possesses the land, workforce and market conditions necessary to become a global leader in cashew production and processing. However, the sector’s performance has been limited by weak policy frameworks, lack of reliable production data and insufficient processing infrastructure. Speaking ahead of the upcoming Nigeria Cashew Day 2026 in Abuja, NCAN president Dr. Ojo Joseph Ajanaku highlighted the need for a comprehensive national cashew policy that protects local producers, incentivizes investment, and promotes organic and value‑added products.
Nigeria has millions of hectares of arable land suitable for cashew cultivation — far more than some neighboring cashew producers — and could, according to estimates, expand annual production to over 2 million metric tonnes within five years and beyond in the longer term. NCAN also insists that local processing facilities must be increased, especially in major producing states, to keep more of the value chain within the country and reduce reliance on raw exports.
Beyond export earnings, NCAN says the cashew industry’s growth could generate millions of jobs, particularly in rural areas, and play a significant role in diversifying Nigeria’s non‑oil export base. Official records this season show Nigeria’s cashew exports reached over 400,000 metric tonnes, valued at around $700 million, though actual figures may be higher due to unrecorded shipments.
The focus now is on aligning government policy, private investment, and processing capacity to unlock the full potential of Nigeria’s cashew sector. With the right strategies, the industry could transform into a major contributor to national export revenues and rural employment in the coming years.
