FG Set to Exploit $7bn Cashew Industry:
Federal Government has decided to exploit the cashew nut industry valued at over $7billion dollars. This is besides the yam export programme expected to be flagged off today to the United Kingdom.
Minister of Agriculture,Audu Ogbeh said talks are on with Walmart, the largest supermarket chain in the United States where the Nigeria could take advantage of exporting 130,000 tonnes of the product per annum.
According to Ogbeh,six cashew processing factories will open for operations this year. They will be located along the cashew belts of Enugu,Imo,Benue,Kogi,Kwara and Oyo states.
He said,”We have shipped some yams to the US, this consignment is for the UK, I was in Dakar just two weeks ago and Nigerians there said they need yam from Nigeria as well, that can go through trucks.
“But the other good news is cashew nuts this things look small we are in conversations with Walmart the biggest supermarket chain in the US, they came here and asked us to roast cashew nuts for them, their demand is a 130,000tonnes of cashew nuts per annum, the total value is 7billion dollars, but what we are doing now is shipping raw cashew to vietnam, they are the ones roasting and selling to the US.
“This year we are going to create six cashew processing factories in Nigeria, one to be sited in Enugu,Imo,Benue,Kogi,Kwara and Oyo states, these are the cashew belt for now”.
