The spokesman of the National Cashew Association of Nigeria (NCAN) Mr. Sotonye Anga has revealed that export proceeds of cashew nuts from the 2015 planting season has amounted to N50 billion. Mr. Anga made this revelation to newsmen in Lagos and he revealed further that the cashew nuts export brought about N24 billion to Nigeria in 2013 and 2014.
Anga in his statement said the astronomical increase in cashew nuts export earnings was made possible by the farmers who did not relent in the cultivation of cashew fruits which in turn produced qualitative cashew nuts. This resulted in increased demand for the nuts.
He said, “For 2015, because of the significant growth in pricing and increased demand for Nigeria’s cashew, what the cashew sector contributed to the Nigerian economy is about N50 billion. That is an improvement in the export of raw cashew. Whereas in 2013 and 2014, the sub-sector contributed about N24 billion”.
He explained further that there is a possibility that export earning could even be more than the reported N50 billion as the figure did not factor in export earnings made through Nigeria’s porous borders by saying “This year, having made the N50 billion mark, the global expectation for the next season is going to increase. This figure could be more but because of export through our porous borders we could not account for those ones”.
This revelation should serve as an eye opener for Nigerians as there are lots to be exploited in cashew nuts exportation business.