Nigeria’s cashew industry has generated more than $400 million in export deals in 2025, supported by favourable weather conditions that have boosted harvests across central producing states.
While the earnings have strengthened the country’s non-oil export performance, industry leaders say Nigeria is still falling short of its true potential due to low processing capacity and limited domestic consumption.
Speaking at the 4th Nigeria Cashew Day held in Abuja, Sheriff Balogun, President of the Federation of Agricultural Commodity Associations of Nigeria (FACAN), stated that agriculture continues to drive growth in non-oil exports, with cashew playing a leading role.
According to Balogun, official trade figures show non-oil exports rising from about $5 billion to $6.1 billion this year, largely driven by agricultural commodities.
Despite the gains, he noted that Nigeria remains heavily dependent on raw cashew exports, with only 20 to 30 per cent of production currently processed locally.
“We can do more,” Balogun said, adding that with proper planning and investment, Nigeria could significantly scale up production and processing within the next five years.
Echoing similar concerns, Ibrahim Sanfo, President of the African Cashew Alliance, stated that Africa remains the world’s largest cashew producer but consumes less than one per cent of what it grows.
He described the continent’s low processing capacity as a structural weakness, particularly in Nigeria, where 80 to 90 per cent of cashew output is exported in raw form.
“Our processing is less than 10 per cent,” Sanfo said. “Without strong government support, it will be difficult to change this.”
Meanwhile, Joseph Ajanaku, President of the National Cashew Association of Nigeria, said the country is working towards reclaiming its former position as a leading global cashew producer.
According to him, Nigeria has the land, climate, and human capacity needed to dominate global cashew production if value-chain investments are prioritised.
Industry players have also projected higher output in 2025, driven by adequate rainfall and improved growing conditions, raising expectations that the sector could contribute even more to export earnings, job creation, and rural livelihoods.
Stakeholders say expanding local processing would not only increase export value but also create jobs, strengthen agro-industrial growth, and improve farmer incomes, positioning cashew as a strategic crop in Nigeria’s agricultural diversification drive.
Source: Business Day
Image Credit: BOA
