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Cashew farmers sign N3.6bn MOU to boost production

The National Cashew Association of Nigeria, NCAN is to sign a 3.6 billion memorandum of understanding, MOU with foreign Investors to boost the cashew value chain in the country.

National President, of NCAN, Mr Ojo Ajanaku, stated this during a press briefing in Abuja.

Mr Ajanaku said the MOU would provide over N50 billion annual investment opportunities in Nigeria.

He explained that the interactive conference which was scheduled to hold in kogi State was a strategic roadmap to attract investors, off takers and Farmers to improve the cashew industry.

On his part, the Former Official of FACAN, Mr Isaac Ojonugwa observed that the proposed conference would avail members adequate time to prepare for the conference.

An agricultural expert, Mr Godwin Ochaga who is also the Managing Director of HOMENA explained that the requests by stakeholders to widen the scope of the conference, in other  to capture more inputs, was part of the reasons for the rescheduled date.

“The mandate of the first national cashew interactive roundtable is a follow up of the Presidential Enabling Business Environment and the Central Bank of Nigeria(CBN) on Financing for Development.

“The conference will consist of interactive roundtable among stakeholders and representatives of government ministries, agencies, extra ministerial departments, civil society organizations, private sector, World Bank and other international development partners”

He Added that efforts were ongoing to get the approval of the Standard Organization of Nigeria (SON) to ensure standardization of cashew nuts as well as NAFDAC to certify the branding and labeling of cashew products before exporting it.

JULIAN OSAMOTO.

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