Cashew farmers under the umbrella of the National Cashew Association of Nigeria (NCAN) have commended Kogi State Governor, Usman Ododo, for implementing policies that have boosted cashew prices and stabilised the market, with the commodity now selling at about N1.8 million per tonne. Speaking on Friday, NCAN National President, Dr. Ojo Ajanaku, described the governor’s actions as “patriotic, noting that the policy has significantly improved farmers’ earnings and protected them from long-standing exploitation. Ajanaku said the Kogi State Cashew Procurement Policy, aligned with an earlier directive by the Federal Executive Council (FEC), prohibits foreign buyers from purchasing cashew directly at the farm gate. According to him, strict enforcement of the policy has prevented price manipulation by foreign merchants, a practice he said had plagued the sector for over a decade. “For the first time in 10 years, farmers are smiling to the bank,” Ajanaku stated. “Cashew is selling for N1.8 million per tonne, and the price has remained stable. In the past, foreign buyers would suddenly crash prices to as low as N300,000 per tonne, taking advantage of farmers’ urgent need for cash.” ALSO READ: Labour minister charges incoming SSASCGOC leaders on constitution, union’s interests He explained that foreign buyers often exploited peak harvest periods, particularly around festive seasons, to dictate unfavourable prices. However, the new policy has curtailed such practices by limiting their access to farmers. Kogi State, one of Nigeria’s leading cashew-producing regions, has played a pivotal role in influencing national pricing trends, Ajanaku added. He noted that the state government worked closely with NCAN to enforce the no farm-gate encroachment policy, ensuring that farmers receive fair value for their produce. “The absence of foreign interference at the farm gate has made it impossible for them to control prices this season. This has had a ripple effect across the country, keeping prices stable nationwide,” he said. Ajanaku further argued that strengthening the cashew value chain through supportive policies could have broader economic benefits, including boosting Nigeria’s foreign exchange earnings and supporting the naira. “When there is strong political will to support farmers, the naira will benefit. What we are seeing is not just trade, it is part of a larger economic struggle, and protecting our farmers is key to protecting our currency,” he added. The development comes as Nigeria continues to push non-oil exports, with agricultural commodities like cashew increasingly taking centre stage in the country’s foreign trade strategy.