Away from the spotlight often reserved for oil and gas, Nigeria’s cashew industry is steadily evolving into one of the country’s most promising non-oil export success stories, delivering foreign exchange earnings, rural employment, and growing agro-industrial investment.
Recent industry figures show that Nigeria now exports approximately 600,000 metric tonnes of cashew annually, positioning the crop as a major contributor to export revenues and livelihoods across producing states. The data, released by the National Cashew Association of Nigeria (NCAN), reflects years of expanded cultivation, improved access to export markets, and rising global demand for African cashew.
The figures were disclosed by NCAN’s National President, Joseph Ajanaku, on the sidelines of Nigeria Cashew Day 2026, held recently in Abuja. According to him, Nigeria possesses the land, climate, and labour force required to reclaim a leading position in global cashew production, provided current scale-up efforts are sustained and supported.
Ajanaku explained that the Association is actively driving nationwide tree-planting initiatives and farmer aggregation programmes aimed at lifting output beyond current levels. However, he stressed that the industry’s next phase of growth must go beyond volume expansion to focus squarely on value creation.
Despite rising exports, industry data indicates that Nigeria still ships most of its cashew in raw form, leaving processing margins, skilled jobs, and higher earnings in overseas markets. To address this gap, NCAN is pushing for policies that incentivise local processing, modern logistics infrastructure, and improved export traceability, which could significantly increase earnings per tonne.
One of the major challenges identified by the Association is weak export documentation and illegal trading activities by some foreign buyers. Ajanaku noted that certain cashew exports bypass the Nigeria Export Proceeds (NXP) system, making it difficult for authorities to accurately track export volumes and repatriated earnings, thereby undermining revenue transparency.
In response, NCAN has launched a national farmers’ mapping initiative designed to digitally register cashew farms, production volumes, and export flows across the country. The digital system is expected to provide policymakers, regulators, and investors with clearer data on supply patterns, demand trends, and the overall earnings potential of the cashew value chain.
The Association is also calling on the Federal Government to introduce a Special Agro Processing Loan with interest rates of around 10 per cent. Industry leaders argue that access to affordable credit would enable farmers and processors to expand capacity, adopt modern technology, and compete more effectively in global markets.
Regional trends further underscore Nigeria’s opportunity. Ibrahim Sanfo, President of the African Cashew Alliance, warned that Africa currently processes less than 10 per cent of its cashew output, exporting as much as 90 per cent in raw form. He emphasised that stronger government policies across the continent are essential to shift from commodity exports toward agro-industrial production, technology adoption, and increased local consumption.
Echoing similar views, Sherif Balogun, National President of the Federation of Agricultural Commodities Association of Nigeria (FACAN), said better alignment among farmers, processors, exporters, and regulators would help reduce bottlenecks and stabilise pricing across the cashew market. He linked the crop’s growing importance to Nigeria’s broader non-oil export rebound, which has risen from about $5.7 billion to over $6.1 billion this year.
Balogun noted that cashew alone has generated hundreds of millions of dollars in export earnings, making it one of Nigeria’s strongest agricultural contributors to foreign exchange inflows. Yet, despite increased output, Nigeria currently processes only about 20 to 30 per cent of its cashew locally.
Industry projections suggest that with targeted investment, improved planning, and supportive government policies, Nigeria’s cashew export earnings could multiply significantly within the next five years, further strengthening the country’s push to diversify away from oil dependence and build a more resilient export economy.