Nigeria to earn $75m annually from cashew- German Development Cooperation

The German Development Cooperation and the European Union have said that Nigeria is capable of earning $75 million from Cashew production annually.

Mrs Kikelomo Chibeze, Project Manager, VET—Toolbox, a co-founded European Union and German Federal Ministry of Economic Cooperation said this at a news conference in Abuja.

She said that the $75 million would be an additional revenue from promoting Raw Cashew Nut (RCN) processing locally.

She said that a cashew processor with a utilised capacity of 12,000 metric tonnes had the potential to create no fewer than 800 direct jobs.

“With direct farmer linkage programmes, almost 16, 000 farmers could benefit from an incremental income of more than $ 4.1 million in the first seven years’’.

She said that VET-Toolbox in partner with Julius Berger Nigeria would also pilot training programmes for cashew farmers and factory workers.

This, she said, was to tackle some of the key challenges that the local processing industry was currently facing.

She listed such challenges as; low RCN quality, weak market and supply chain linkages and an unfavourable policy environment.

She said that the action would be implemented by the German International Cooperation supporting the cashew sector and the transport logistics sector.

Chibeze said that it would come with skill development and training programmes that were tailor-made to the capacity building needs and business development opportunity of the private sector.

According to her, a total number of 1,000 beneficiaries including 500 farmers and factory workers, 500 dispatch Riders with 35 per cent beneficiaries of them being women.

She said that the action would establish a pool of 50 expert trainers to support with the implementation and sustainability of the training beyond the project life cycle.

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