Stakeholders in the cashew sub-sector have called for the establishment of more cashew processing industries across the country to boost the nation’s economy and reduce excessive waste associated with processing. The stakeholders made the call at the Ogbomosho Investment Roadshow in Abuja.
At the occasion, the Special Adviser to President Bola Tinubu on Economic Affairs, Dr. Tope Fasua, emphasised the need for more cashew processing industries in the country, stating that Nigeria generates around three to five million dollars annually from cashew, but could benefit more with increased processing. He stated that the cashew nut processing industry is one of the Nigeria’s most lucrative agricultural enterprises, with an estimated annual production of over 300,000 metric tonnes. Fasua underscored the various business opportunities available in the sub-sector, including supplying raw materials, processing and packaging, and re-exporting semi-processed or fully processed products.
Also, the Vice President on Agriculture, Abuja Chambers of Commerce and Industry, Olasetemi Thompson, stressed the importance of recognising the vast potential within industrial processing for Nigeria’s economy. He pointed out that establishing processing facilities in rural areas can decentralise economic activities, reduce post-harvest losses, and enhance the quality of agricultural products. Speaking further, he said that the expansion of agricultural industrial processing fosters innovation, entrepreneurship, and contributes to sustainable development. The organiser of the event, Benjamin Onigbende, stated that the summit’s goal was to develop society and alleviate poverty in the country through agriculture.
He pointed out that the United States and other developed countries had embraced mechanised agriculture, and proven successful for them. According to him, the summit aims to explore and implement similar strategies to enhance agricultural practices in Nigeria for economic growth and poverty reduction. In her presentation at the Ogbomoso Investment forum, Barr. Busola Olagunju expressed optimism about Ogbomoso’s potential for greatness. Olagunju, who was represented at the forum by Aderonke Kosemani, highlighted the region’s blessings, including fertile farming land, experienced farmers, traders, artisans, a tertiary institution, and mineral resources. She emphasised that with these advantages and a highly educated and resourceful indigene pool, Ogbomoso should be closer to Lagos in terms of development.
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