Nigeria's Cashew Sector Generates Over $400 Million in Export Revenue, Industry Leaders Say
Nigeria's Cashew Sector Generates Over $400 Million in Export Revenue, Industry Leaders Say
Cashews have contributed to the recent growth in Nigerian non-oil exports, with over 300,000 tonnes shipped in 2025, according to Sheriff Balogun, President of the Federation of Agricultural Commodity Associations of Nigeria.
However, the sector operates below potential, as Nigeria processes only 20-30% of its raw nuts, Balogun emphasized while speaking at the 4th Nigeria Cashew Day in Abuja.
"If we add value, we can make more than five times what we earn at the moment," the businessman stated, pointing to opportunities in products like cashew milk and oil.
Africa produces most of the world's cashews but processes less than 10% and consumes under 1%, noted Ibrahim Sanfo, President of the African Cashew Alliance, stressing that government support is crucial to changing this dynamic.
"We want to grow Nigeria's cashew production capacity so we can return to the number one position we once held," Joseph Ajanaku, President of the National Cashew Association of Nigeria. "We have the land, the climate, and all the resources needed to be the number one cashew producer globally."
The push comes as Nigeria's cashew exports reportedly saw an over 80% year-on-year increase in 2025, contributing to a rise in total non-oil export earnings to approximately $6.1 billion.
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