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Cashew Association set to sign N3.6B MOU, creates 5M Jobs for youth

The National Cashew Association of Nigeria is set to sign a Memorandum of Understanding to the sum of N3.6Billion that will provide jobs for over 5million Nigerian youth.
The President of the Association who was represented by Dr Onuche Victor, made the disclosure while briefing Journalist in Abuja.
He said there is need to properly harness the Cashew production sector in order to boost the economy.
“The Cashew sector is meant to contribute 50 Billion to the Nigerian economy.
By the year 2020, we will take it from 50 Billion to 220 Billion Naira”.
According to him, the MOU will involve foreign investors who is set to expand the market.
“The investors will bring the entire market to our doorstep. The two parties will decide what they want to reach a logical conclusion”.
“The farmers will be lifted out of poverty, and also provide job for the thousands of unemployed youth.”
He explained that financial institutions has not been giving much support to Cashew farmers.
In the same vein, he said the National Conference of the Association that is slated for this month has been postponed.
“The new date will be made known to all and sundry.
The conference will bring about all. Stakeholders in the Cashew industry”.

Mr Sunday Ojonugwa, Ex Official, National Cashew Association of Nigeria, disclosed that Nigeria is currently producing over 200 Tonnes of Cashew nut.
He hinted that a large number of Cashew product is wasted due to lack of storage facilities.

He reiterated the need for investors to explore the market and also expand the production capacity.
“We will add value into the industry, by ensuring that farmers are not treated badly. The high cost of production has discouraged many farmers from continuing in the trade”.
In addition, he noted that the cost of transportation is very high, which is one of the challenge faced by the farmers.

Godwin Emmanuel, of HomeNa Agric Business Consult emphasized the need to improve on the standard of cashew production in the country.
He said there is need to synergize with different stakeholders and relevant bodies to improve Cashew production in Nigeria.
Emmanuel harped on the fact that Cashew production will aid in reducing poverty in the land.
“We are looking for a situation where thousands of Youth will be gainfully employed through the scheme”.

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