‘Nigeria makes N23b yearly from cashew’

Nigeria earns N23 billion yearly from cashew production, President, National Cashew Association of Nigeria, Mr  Tola Faseru, has said.
Speaking in Lagos with The Nation,  he said the revenue comes from 100,000 tonnes produced annually by about 200,000 farmers nationwide.
Faseru  said  the nation has  the potential  of  improving    from her position as  the  fourth latest  producer in the world considering  her  arable  land.

His association’s   agenda, Faseru said, is to increase its national production to 200,000 tonnes annually, adding that the development would make Nigeria an important participant in the world cashew market.
In spite of the multi-faceted benefits of cashew, he said processing is largely non-existent and that 95 per cent of  cashew are exported as raw nuts to overseas countries.

Source: http://www.thenationonlineng.net/2011/index.php/business/29708-%E2%80%98nigeria-makes-n23b-yearly-from-cashew%E2%80%99.html