Tectono Business
Review
gathered that between 2015 and 2017, Nigeria earned $813.05m (N284.5bn) in
foreign exchange from the exportation of cashew nuts.
The
President, National Cashew Association of Nigeria (NCAN), Mr. Tola Fasheru, gave the figure in Abuja shortly after he led a
delegation of the association to meet with the Minister of State for Industry,
Trade and Investment, Mrs. Aisha
Abubakar.
The National Cashew Association of Nigeria
(NCAN) president disclosed that the contribution of cashew to national
export earnings had been on a steady increase since 2015. For instance, he said
export earnings rose from $152m in 2015 to $259m in 2016 and $402.05m in 2017. According
to him, Nigeria’s major trading partners are from Vietnam, India and the United
States.
Fasheru
commended the commitment of the Federal Government to repositioning the economy
through cashew production and stressed that the Nigerian brand of cashew nuts
was one of the most preferred internationally.
He
called on the Federal Government to address some of the problems affecting the
production and exportation of cashew nuts in the country. For instance, he
called for a quick solution to the Apapa gridlock which he said was negatively
impacting on the exportation as well as provision of 2,600,000 jute bags for
the packaging of cashew nut harvest for 2018.
Fasheru
also sought the support of the government in the provision of N20bn needed to
finance the exportation of cashew nuts in the 2018 fiscal period. He said
despite the challenges facing cashew production, the country was able to
increase its production volume with the country becoming the fourth largest
producer of the commodity globally. Fasheru said the country was able to
produce 220,000 metric tonnes in 2017 and exported 120,000 metric tonnes of
cashew nuts.
The
minister was said to have commended the contribution of the NCAN to the
improvement in cashew farming, processing and production. This, she stated, had
boosted the contribution of the sector to foreign exchange earnings, job
creation and the growth of the Nigerian economy.
She
promised that urgent steps would be taken to ameliorate the problems facing
cashew farmers and exporters. This, she said, would be achieved in
collaboration with other agencies directly involved with the identified
challenges to cashew production, packaging and exportation.
Hmmm!!! Folks, have you ever
imagined how the financial status of your firm will be when more than 20,000
CEOs and other key decision makers of blue-chip corporations pay for your
products and services or even give you very juicy deals. The link below will
tell you more: http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html
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