By Matthew Denis
An Expert, Dr. Olusegun Samuel Ibiremo has said that only 10 per cent of cashew produce is being processed by investors in Nigeria.
He made the disclosure during a sensitisation programme on cashew products organised by Nigerian Export Promotion Council (NEPC), held in Ilorin recently.
Ibiremo, a Director of Research at the Cocoa Research Institute of Nigeria, said “Cashew processing in the country is still very low. Less than 10 per cent of the quantity we are producing is being processed and that is not good for us.
” Until we are able to move the products we are processing from 10 percent to about 50 percent we have less to export. And the lesser it is the better for us because it will create jobs for our people and value addition to the product.
The expert stressed that it will be an opportunity for Nigeria to expand the activities of our infant industries.
He said, ” A situation whereby we take everything outside we are exporting our job without making more money on the products but when we process and export it is more profitable with the value addition.
“Because when we produce it is not just the cashew nut that we get but there are other products, thereby creating more jobs for other people and raw materials for our industries.
Ibiremo explained that Nigeria is producing over 900 metric ton of cashew and selling about N350,000 per or even N700,000 per kilogram.
” When you multiply the above figures you will discover that we are losing millions of naira to other countries who are processing the products. These countries bring processed nuts and sell it to us at a high cost,” he explained.
Also speaking, the Trade Promotion Smart Office, Mr. Andrew Okhuilu who was represented by the Head of Operations, Mr. Ayinde Mosadi stressed that the essence of the programme was to expose the participants to value addition in cashew nut products.
“Today, more people have recognised the potentials of cashew as a great export material that is economically viable but increase in production is still at low ebb as many farmers still focus on other food crops.
He encouraged the farmers to key into processing measures of cashew products before exporting thereby turning into millionaires in their businesses within short
