ABUJA, Nigeria (The Informant247) – Nigeria targets to raise its annual production capacity of cashew nuts from 260,000 metric tonnes to over 500,000 metric tonnes, trade minister said on Monday.
“In the next few years, Nigeria intends to ensure the processing of not less than 50 per cent of its total production,” Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo said at a programme in Abuja.
Adebayo urged investors to invest in the sub-sector with a view to exploring the benefits it provides.
He assured that the Federal Government would ensure the enabling environment for businesses in cashew production, processing and export to thrive.
“The government has put in place incentives to encourage investments in the sub sector.
“This is therefore a call for actors both local and international players to take advantage of these incentives to invest as Nigeria remains the ultimate investment destination for investors in the cashew sub sector,” Adebayo said.