Cashew Crisis in Nigeria: NCAN Rejects Export Ban, Warns of 5 Million Jobs at Risk

NCAN opposes the export prohibition on raw cashews, claiming that the measure jeopardizes nearly five million employment and farmers' livelihoods. Plans to outlaw the export of raw cashew nuts have been rejected by Nigeria's National Cashew Association.

According to the association, the legislation will have an impact on farmers and lower sector-wide revenue. At a meeting of stakeholders in Abuja, President Ojo Ajanaku gave a speech.

He stated that farmers shouldn't use limited exports to finance domestic processing. "Our farmers cannot be made to subsidize processing in disguise," he declared.

He claimed that cashew farmers in Nigeria confront enormous expenses while operating on small plantations. According to him, transportation expenses can account for as much as 40% of earnings.

According to him, labor costs account for around 30% of production costs. Nigeria used to be the world's top producer of cashews, but it now lags behind Côte d'Ivoire.

According to him, local processors have to deal with expensive energy and finance rates. "Endangering five million livelihoods in an attempt to create 35,000 jobs does not make economic sense," he stated.

Over five million people are supported by this sector, he said. He claimed that prohibiting exports won't address issues with funding or manufacturing.

Rather than imposing export limitations, he advocated for low-interest loans for processors. Concerns over leadership conflicts within NCAN were also voiced by the group.

It claimed that internal conflicts are being influenced by outside interests. The Federal Ministry of Industry, Trade, and Investment will receive a letter from stakeholders.

The minister was instructed to maintain objectivity in the leadership dispute. They also suspended two association officials for investigation.