Only 10% of cashew produced in Nigeria is processed for export, says Obasanjo

Former President Olusegun Obasanjo has disclosed that only 10 per cent of the cashew produced in Nigeria is gainfully processed for export.

Speaking at the 16th African Cashew Alliance (ACA), Obasanjo regretted that the country was losing revenue to developed nations by majorly exporting raw cashew nuts.

He said “I very much wished that the ACA Conference happening now would happen eight or nine years ago and I challenged them. So, you can imagine how happy I am.

“The challenge that I gave them nine years ago is now been actualised today. I’m very happy to be able to see firsthand what progress is been made. We are not starting on a blank sheet as there are things on the ground.

ALSO READ FROM NIGERIAN TRIBUNE

• Motorists, Travellers Stranded As Ado-Ilawe-Ekiti Road Collapses

• FG Orders Buyers Of Seized Drug-Linked Properties To Pay N31m Extra

• Police Recruitment: Ex-IG Musiliu Smith Resigns As Chairman Of Police Service Commission

• FG Pays N289m To 74 Victims Of Police Brutality

• Southwest PDP Backs Atiku, Insists Ayu Must Go
• Only 10% of cashew produced in Nigeria is processed for export, says Obasanjo
• Only 10% of cashew produced in Nigeria is processed for export, says Obasanjo

“What we need to do is to enhance, improve, multiply, promote and do everything possible to increase the benefit and advantage that we get from the cashew industry.”

Obasanjo lamented that ” It’s painful, I’m sad that 10 per cent of cashew that is produced is processed, so some people are taking advantage of our own hard labor in production, they add value to it and they get more money from it than we should have gotten if we produced and process.

“So, in my short speech to them, I give them a challenge that we should give ourselves what I call a twenty, thirty committee for policy, for production, for processing, for promotion and indeed for research because there is a lot we can get from research.

“No aspect of cashew from the root to the leave should be wasted. And that is what research and innovation will help us achieve,” he stated.

On his part, the president, African Cashew Alliance (ACA), Otunba Babatola Faseru said “we are working together with eleven countries to improve the production of cashew.

“We can do better in the cashew sub sector. In line with the recommendation of former president Obasanjo, we will ensure an improved processing of cashew in Nigeria,” Feseru assured.