National President, Nigeria Cashew Association of Nigeria (NCAN), Dr Ojo Joseph Ajanaku (middle) flanked by the NCAN National Secretary, Engr. Agustine Edime (left) and the Association Financial Secretary, Hon. Abu Mohammed Kàbir (right) during the NCAN 2025 Pre – Conference Media briefing, held in Àbuja. Photo Credit: News Scope Africa
The President of the National Cashew Association of Nigeria (NCAN), Dr. Ojo Joseph Ajanaku, has emphasized the vast economic and employment opportunities in Nigeria’s cashew industry, urging a strategic shift from raw exports to value-added processing.
Speaking to journalists in Abuja, Dr. Ajanaku, announced plans for the 2025 Nigeria Cashew Day, set for January 24 in Lagos, under the theme “Catalyzing Sustainability in the Nigeria Cashew Industry.”
He highlighted the event’s focus on addressing challenges in processing and unlocking the full potential of the sector.“We’ve focused heavily on production, but it’s time to prioritize processing to sustain the industry and maximize its economic benefits,” Ajanaku said.
He pointed out the global cashew market’s current value of $7.8 billion, projected to reach $11 billion by next year, lamenting Nigeria’s drop from being Africa’s leading cashew producer to its current 40th position.
“This conference is an opportunity to strategize on reclaiming our leadership and driving significant economic contributions,” he stated.Dr. Ajanaku also outlined the economic impact of boosting cashew production and processing.
He noted that producing two million tons of cashew could generate over $3.7 billion annually while creating millions of jobs.
“Each hectare of cashew farming employs at least five workers, while processing factories with a daily capacity of 100 tons can employ no fewer than 800 staff. The indirect job opportunities—from transport to food vendors—are immense,” he explained.
Calling on the federal government to prioritize the sector, Ajanaku said, “Countries like Vietnam, with fewer resources than Nigeria, generate over $4 billion annually from cashew exports. We can surpass them with the right policies and investments in value addition.” He maintained
He also highlighted partnerships with key agencies, including the Ministry of Agriculture, the Cocoa Research Institute, the Raw Materials Research and Development Council, and the Nigerian Export Promotion Council (NEPC), as critical to advancing the industry.
The 2025 Nigeria Cashew Day is expected to bring stakeholders together to discuss innovative strategies for enhancing sustainability and unlocking the cashew industry’s potential for economic growth and job creation.
The Nigeria Cashew Day, an annual event, rotates across producing states.
This year’s edition in Lagos is expected to galvanize stakeholders to harness the untapped potential of cashew for sustainable economic development.
About the Author
