The National Cashew Association of Nigeria (NCAN) has requested financial assistance from the federal and state governments to boost cashew production in the country.

NCAN’s president, Ojo Ajanaku, made the call at the third edition of the National Cashew Day on Friday in Lagos.

The programme has the theme “Catalysing Sustainability in the Nigeria Cashew Industry.”

Mr Ajanaku, who appreciated the federal and state governments for their roles in the cashew industry, appealed for more funding.

“We are having this programme to sensitise our people to know the importance of the cash industry in Nigeria and what it can do to change the social life of our people.

“We believe that if we all work together in collaboration, something positive will come out of it in this economic challenge.

“The government has been creating policies; we need more government attention in terms of policy formulation and the necessary financial support,” he said.

Mr Ajanaku said that such financial support would boost production and the processing of the Nigeria cashew industry.

He said the association was established with the purpose of bringing every stakeholder in the industry together to advocate and influence policy formation for the sector.

“As an association, we promote an increase in production because we have the capacity to produce more than what we are currently producing as a nation.

“In fact, we were once number one in Africa as of 2010 to 2012 and if we are number one in Africa, it means that we were once number one in the world.

“Today, we have dropped down to the fourth level with the capacity of 350,000 tonnes that we are producing,” he said.

According to him, the government should look critically into expanding the cashew industry, as it will benefit the economy in general.

In her address, Jumoke Oduwole, the minister for industry, trade, and investment, said the Nigeria cashew sub-sector, over the years, had remained one of the major contributors to the gross domestic product (GDP) of the economy.

Ms Oduwole said the theme of the programme was timely, judging from the global concern for the future and how best to evolve the right strategy and efforts toward a globally competitive cashew industry.

The minister was represented at the event by Akeredolu Johnson.

“The Nigeria cashew sub-sector, over the years, has remained one of the major contributors to the GDP of the economy.

“The sub-sector has continued to impact the economy through its contribution in terms of jobs and wealth along the value chain.

“Cashew currently ranks third behind cocoa and sesame in terms of export value, even in the face of huge untapped potential,” she said.

The minister said the country had maintained a steady increase in the production of the commodity, contributing immensely to the global supply chain.

She said the industry had sustainably created hundreds of thousands of jobs for Nigerians who were engaged at the various points of the value chain of the commodity.

“This has contributed to food security, job creation, foreign exchange earnings, economic diversification agenda, wealth creation for individuals, especially women and youths, and revenue to the government.

“The country is also desirous of achieving an expanded market; hence, our continued efforts and commitment to ensuring basic stipulated market requirements are met as a major enabler,” Ms Oduwole said.

She said the country was undoubtedly blessed with huge cashew resources, as it is produced in commercial quantity in about 18 states.

“The Federal Ministry of Industry, Trade, and Investment is sustaining its efforts and also working closely with NCAN and other relevant agencies of government.

“We are also working with the organised private sector towards creating a robust cashew sector that delivers globally competitive value-added products in one hand.

“We are also striving to secure high profits for all actors through the right programmes and activities aimed at enhancing the respective value chain, particularly value addition and product development,” she said.

She added that the ministry had considered the need to create the right environment and platforms to spur investment in the cashew value chain.

According to her, market linkages and technical support are needed, especially to strengthen domestic production, processing, and marketing capabilities.

“We are not unaware of the numerous challenges we have been confronted with, which border on the high cost of processing. We are also aware of the limited availability of credit for processors to support their capability.

“Even though the challenges are enormous, we must continue to brainstorm until we find solutions on the way forward,” she said.

She, however, encouraged the association to remain a formidable association by keeping to their commitments and obligations, as enshrined in their constitution.

(NAN)