Nigeria Loses N380bn Annually From Cashew Export
source: http://www.eyesoflagos.com/2017/05/nigeria-loses-n380bn-annually-from.html

Nigeria has been losing $5 billion (N380bn) annually from Cashew nut tree by not given deserving attention to it despite having capacity to create enormous wealth for farmers across the country and generate huge foreign exchange for the government.
According to data from the National Cashew Association of Nigeria (NCAN), due to lack of value addition and Nigeria’s inability to process cashew nuts in significant quantities for export, the country lost $1.4 billion in 2016.
According to the information, Nigeria exported a total of 160,000 metric tonnes of cashew valued at $300 million in 2016. This was far behind what farmers and exporters could have earned assuming there were processing factories that could process cashew nuts for export standard.
The cash crop (cashew), which is an important industrial and export crop whose potential is yet to be fully exploited in Nigeria, is said to provide livelihood for over 300,000 families and has created 600, 0000 jobs.
Historically, in the 1980s, Vietnam’s cashew production was in the same level with Nigeria’s production. In the early 1990s, Vietnam began processing its cashew and 16 years later, the country had become the largest processor and exporter of cashew kernels in the world and by 2013, Vietnam already earned $1.8 billion from cashew kernel export to over 80 countries. Currently, India’s cashew exports amount to over $2.5 billion and Vietnam generates as much as $3 billion each year, mainly from processed kernel.
However, the Nigerian cashew industry is suffering from declining productivity and dwindling export earnings, thus making the commodity less competitive in the international market, compared with other African countries like Gabon, Cote d’Ivoire, Benin Republic and Ghana.
Recently, Minister of Agriculture and Rural Development, Audu Ogbeh, said Nigeria would start exporting processed cashew nuts by 2019, adding that currently a tonne of processed cashew nuts, when exported, is sold for $10,000 while the raw cashew nuts are sold at $1,200.
He explained: “It would be beneficial to process the nuts and export rather than exporting the nuts raw. So in the next two years, we will no longer export raw cashew nuts, but roast the cashew nuts for export.”
But industry watchers countered the claims made by the Minister, saying that government talks too much but does little in terms of action. They said the Minister should put in place a master plan that will ensure that exporting processed cashew nuts by 2019 is feasible.
EYES OF LAGOS gathered that in Nigeria, cashew grows successfully in virtually all agro-ecological zones including the semi-arid areas but with high concentration in the middle belt areas in smallholder farms and plantations. Cashew production comes from over 28 states including Kogi, Kwara, Oyo, Edo, Ondo, Benue, Cross River, among others.
A cashew exports expert/Managing Director of Universal Quest Limited, Sotonye Anga, said for the industry to be galvanised, strengthened, restructured and better positioned, it requires at least a N100 billion intervention fund to put the industry in top shape. He said a minimum of N20 billion will help.
Anga said the industry needs to be intensified to drive growth of industry, which will attract investors, saying priority must be given to cashew processing to ensure that Nigeria’s cashew processing capacity becomes competitive.
He added that “When you are processing cashew, you know that you are processing a global product that will be consumed globally. So issues of quality become very critical, which means that there is need to deploy the right kind of technology to deliver high quality value added cashew. The equipment for processing will cost money because they are not produced locally; they have to be imported. We need to ensure we have right machinery to process cashew and build the right infrastructure.

According to the information, Nigeria exported a total of 160,000 metric tonnes of cashew valued at $300 million in 2016. This was far behind what farmers and exporters could have earned assuming there were processing factories that could process cashew nuts for export standard.



That's a whole load of money , and just 5% of the monies stolen and slashed away by these political rogues will be more than enough to set up some processing factories. .
God punish the people destroying this beautiful and blessed country of ours.
I dey vex!!

we loose more than that , do you know that Nigeria can generate electricity through coal yet we cry of lack of power supply , do u how much money we loose from the oil sector .

The only solution to do to Nigeria for a group of people to rise up and start killing this politicians whether APC or PDP

good

Its all about the Benjamins baby.

Vicboi1:
we loose more than that , do you know that Nigeria can generate electricity through coal yet we cry of lack of power supply , do u how much money we loose from the oil sector .

The only solution to do to Nigeria for a group of people to rise up and start killing this politicians whether APC or PDP

Seconded, How do we achieve this? even the youths who are the supposed leaders of tomorrow are not ready for power, majority just want to get there and pocket a large portion of the National cake. I voted APC in the last election because I felt PMB could be our Thomas sankara or Jerry rawlings but it's clear I was wrong. What's the way out of this conundrum?

What is the need for exporting the goods, since there is no profit

Oom

Hmm

modelmike7:
According to the information, Nigeria exported a total of 160,000 metric tonnes of cashew valued at $300 million in 2016. This was far behind what farmers and exporters could have earned assuming there were processing factories that could process cashew nuts for export standard.


That's a whole load of money , and just 5% of the monies stolen and slashed away by these political rogues will be more than enough to set up someone processing factories. .
God punish the people destroying this beautiful and blessed country of ours.
I dey vex!!

I seconded. May God punish them all!

All our operations in this country are run at a sub optimal level.

lilyheaven:
What is the need for exporting the goods, since there is no profit

There is profit but it's too low due to low revenue.

The oil curse still hitting Nigeria

FILEBE:

I seconded. May God punish them all!

Filebe Kowabe. Oshey!!

NCAN

Ladies and Gentlemen. It is no news that these people have bastardized this great country. I am not looking forward to any politician to make Nigeria great. I am looking forward to contributing to its greatness. If we all can do one or two things for our own benefits and for Nigeria we will care less about these people.

We need to stand in unity and work together as one.We should patronize our own rather than scorn and critizice it negatively.

dis is a good business idea to we agriculture lovers

dis is a good business idea to we agriculture lovers

I remember reading this article from issue of the New Telegraph sometime. Our policy makers inactions have been pouring money into the pockets of neighbouring countries at our own very expense. All they do is preach economic diversification without concrete action. So sad.

You see.

One Nigeria failed us.

mansakhalifa:
I remember reading this article from issue of the New Telegraph sometime. Our policy makers inactions have been pouring money into the pockets of neighbouring countries at our own very expense. All they do is preach economic diversification without concrete action. So sad.

Unfortunate

we just can't get anything right in this country...electricity, water supply, security, politics even down to nursery school teachers! but i believe we are in a phase within a process to achieve a mature nation; the most powerful nations once went through this phase. The revolution is coming, its what we are waiting for. #NigerianRevolutionIsComing

FILEBE:


I seconded. May God punish them all!

don't lay caurses on our elders rather pray for them

Yet super hero Buhari has shared over 1tr with his anticorrupt governors. Just imagine if he had declared a state of emergency in various agric sectors and pumped that money into the sectors. Instead he has enriched less than 50 people with such obscene wealth. BUHARI is a disaster!

juman:
You see.

One Nigeria failed us.

No! what failed and is still failing us is a divided Nigeria. if we stood as one Niger Delta militants wont be blowing up pipes, if we were united we wont have to import everything including light bulbs; we have the brains, we have the hands and the legs in Nigeria, but the moment the hands and the legs also want to become the brain...the parlous result is what we have as the catastrophic condition Nigeria is currently in.

Imagine! The people calling for total healing of the country have more sense than the rest, lazy ants.

Senipapa:
Seconded, How do we achieve this? even the youths who are the supposed leaders of tomorrow are not ready for power, majority just want to get there and pocket a large portion of the National cake. I voted APC in the last election because I felt PMB could be our Thomas sankara or Jerry rawlings but it's clear I was wrong. What's the way out of this conundrum?

You are not WRONG for VOTING him! Do a good research and see the Agricultural Revolution taking place gradually. The man is not even there 3yrs and Nigeria might soon be self reliance on Rice etc.. Despite the extremely low price of Oil (Our only income) when Buhari came in. 3 yrs is not enough to fix what has been Destroyed and Damaged for more than 30yrs. By the end of next year watch Price of Food Drop drastically. You guys have not Clue how many Private people are going into Agriculture as we Speak. Just hold on a bit and also have in Mind that Buhari is not a Magician and cant fix everything...

everybody have come to rant about the state of the nation. but nobody is thinking about pulling like minds together to work on projects like this which could make them a fortune, yet we all wanna be like dangote.

No mind them.... they are all looking for free money... The federal government is working on agriculture... presently they giving out land to farmer from Mile 2 to Ayetoro in Ogun state that's thousand of acres of land

Aragon:


You are not WRONG for VOTING him! Do a good research and see the Agricultural Revolution taking place gradually. The man is not even there 3yrs and Nigeria might soon be self reliance on Rice etc.. Despite the extremely low price of Oil (Our only income) when Buhari came in. 3 yrs is not enough to fix what has been Destroyed and Damaged for more than 30yrs. By the end of next year watch Price of Food Drop drastically. You guys have not Clue how many Private people are going into Agriculture as we Speak. Just hold on a bit and also have in Mind that Buhari is not a Magician and cant fix everything...