Cashew processing: Nigeria will soon become another Vietnam

LAGOS – Ojo Ajanaku, President, National Cashew Association of Nigeria (NCAN), has said that Nigeria will soon become another Vietnam , where Nigerians will be importing raw cashew nut, and will not only be processing what the country is producing, but will also be importing from other African countries to process in Nigeria. Ajanaku in an interview with Daily Independent stated that, “Nigeria is rich, when we are investing in any sector that is profitable we invest massively, “Now as I am talking to you more than five factories are setting up in Nigeria to process cashew nut, and the smallest one among then will process 15,000 metric tonnes of cashew annually that is; 50 tonnes capacity per day of double shift. “I can tell you categorically, it is ongoing now and many are coming in into the sector so what we are doing as an association is to promote production so that at the end when our people have invested in it, it will not only benefit the foreigners who will be importing ...