Stakeholders in Nigeria’s cashew industry have raised concerns over revenue leakages due to the non-declaration of exports proceeds by foreigners operating in the country. National President of the National Cashew Association of Nigeria (NCAN), Dr. Ojo Joseph Ajanaku, raised the concern at the 4th Cashew Day celebration on Thursday in Abuja He said some foreign buyers export Nigerian cashew without completing the mandatory Nigeria Export Proceeds (NXP) form, making it difficult to repatriate export proceeds and obtain accurate production data. According to him, the absence of a robust statistical framework has continued to distort official figures on cashew output and exports. He noted that despite earlier estimates placing Nigeria’s cashew exports below 200,000 metric tonnes, sustained efforts by the association to improve packaging and market access have increased exports to nearly 600,000 metric tonnes. Ajanaku added that while official records put cashew export earnings at about $400 million, the figure could be significantly higher if all exports were properly tracked and proceeds fully repatriated. To address the challenge, he said the current administration has introduced an “Cashew farmers’ mapper”, aimed at mapping cashew farms nationwide to determine production levels, export destinations and exporters. “This will help the Bureau of Statistics have a clearer picture of what we produce and what is exported. We are growing, but we can do much better,” he said. On value addition, Ajanaku expressed concern over Nigeria’s low processing capacity, urging government to prioritise agro-processing through concessional funding. Related News Nigeria to inaugurate maiden cloves farming with 74,000 farmers nationwide Senate to establish Cattle Ranch Commission to curb farmers-herders clashes Cashew association rejects ban on raw commodity export He called for the introduction of a Special Agro Processing Loan (SAPL), similar to the Special Agro-Industrial Processing Zones (SAPZ), to provide processors with single-digit interest loans. “The funds are there—from the Central Bank intervention, NEXIM Bank, Bank of Industry and Bank of Agriculture. If processors can access loans at below five or even 10 per cent, they can compete globally,” he said. He added that Nigeria has a logistics advantage over Asian competitors, noting that shipping time to the United States is less than one month, compared to over six weeks from Asia. Also speaking, President of the African Cashew Alliance (ACA), Ibrahim Sanfou, said Africa remains the world’s largest producer of raw cashew but consumes and processes less than 10 per cent of its output. He said over 80 to 90 per cent of Africa’s cashew is exported raw, stressing the need for strong government policies to support local processing and consumption. “Africa is a big market like India, but we are not processing enough. Without government support, we cannot solve this problem,” Sanfou said. He added that African yields remain low compared to countries like India and Vietnam, averaging between 300 and 800 kilograms per hectare, against over 1.5 tonnes per hectare in India, calling for increased investment in technology and funding. In his remarks, President of the Federation of Agricultural Commodity Associations of Nigeria (FACAN), Sherif Balogun, said the conference marked the opening of the new cashew trading season and would enhance coordination across the value chain.