Only 10% of cashews produced in Nigeria are processed for export, says Obasanjo

Former President Olusegun Obasanjo has revealed that only 10 percent of cashews produced in Nigeria are processed for export at a profit.

Speaking at the 16th African Cashew Alliance (ACA), Obasanjo lamented that the country was losing revenue to developed countries by mainly exporting raw cashews.

He said, “I really wish the ACA conference that’s happening right now would take place eight or nine years ago and I challenged them. So you can imagine how happy I am.

“The challenge I gave them nine years ago is now being updated. I am very happy to see first hand the progress that has been made. We don’t start on a blank sheet, because there are things on the floor.

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“What we need to do is improve, improve, multiply, promote and do everything possible to increase the benefit and benefit we get from the cashew industry.”

Obasanjo lamented that: “It is painful, I regret that 10 percent of the cashew that is produced is processed, so some people take advantage of our own hard labor in production, they add value to it and get more money from it.” than we should have gotten if we had produced and processed.

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“So, in my short speech to them, I challenge them that we should give ourselves a so-called twenty, thirty commission for policy, for production, for processing, for promotion and indeed for research, because there is a lot we can learn from research to fetch.

“No aspect of cashew nuts, from root to leaf, should be wasted. And that’s what research and innovation will help us achieve,” he stated.

For his part, African Cashew Alliance (ACA) President Otunba Babatola Phaseru said: “We are working with 11 countries to improve cashew production.

“We can do better in the cashew subsector. In line with the recommendation of former President Obasanjo, we will ensure improved processing of cashew nuts in Nigeria,” assured Feseru.

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