Agriculture Minister Says Nigeria Targeting $500m From Cashew Export In 2023

Minister of Agriculture and Rural Development, Dr Mohammed Abubakar has revealed that  cashew nut exports from Nigeria generated over $250 million in 2022 and are predicted to bring in $500 million in 2023.

Abubakar was represented on Tuesday in Abuja by Dr Ernest Umakhihe, Permanent Secretary of the Ministry at a briefing on the state of the agricultural Sector.

“In Nigeria, cashew has grown in importance as an export-oriented cash crop since the 1990s, and it has become a significant source of non-oil export revenues,” he said.

”It is estimated to represent over 10% GDP based on export data of 2022 and it is becoming a commercial crop in Nigeria and is cultivated in 27 States including the FCT..

“In realisation of the importance of cashew, the Federal Government through the Federal Ministry of Agriculture and Rural Development listed cashew as a priority crop.

”It is being promoted under the Import Substitution Strategy of the present administration led by President Muhammadu Buhari.”

Abubakar said that the cashew value chain was among the crops being promoted under the Value Chain Programme of the ministry.

“The Ministry had carried out a number of activities over the years to promote the growth of the value chain in the Country including the distribution of improved seeds/seedlings to cashew farmers free of charge.

“Establishment of cashew cottage industries in some states, distribution of agro-chemicals/growth enhancers, carbon free jute bags and knapsack sprayers.

”Others were provision of water pumps to cashew farmers, conducting capacity building/training for cashew farmers and having sensitisation exercises,” the minister added.