The Nigerian Government says effort is in top gear to consolidate its diversification agenda by improving export of the Cashew Value Chain to about five hundred matric tones per annum.
The Minister of Industry, Trade and Investment, Richard Adebayo who disclosed this at a joint news conference with the African Cashew Alliance in Abuja said the country has the potential to become the leading Cashew producing nation in the world.
Represented by the Permanent Secretary, Evelyn Ngige, the Minister said rejection which was a major challenge militating against Nigerian products at the international market has been addressed as the country’s exports will be competing favourably in the comity of nations. He also note that companies involved in cashew processing would be given tax holiday for between three to five years.
The President, African Cashew Alliance, Tola Faseru said the group was set up to ensure sustainability in the Cashew-Value-Chain as Nigeria currently generates only $450m annually from cashew export which could grow to $4 billion dollars if properly managed.
The Joint news conference was to ushering in the 16th edition of the Annual conference of the African Cashew Alliance in Abuja, holding in Nigeria for the first time.
