Nigeria

Nigeria cashew exports 2023

Nigeria, Africa’s most populous nation, continues to play a key role in the global economy. With a GDP of approximately $362.81 billion in 2023, Nigeria ranks as the 39th largest economy in the world.

Since 2015, the government has focused on diversifying its economy, with agriculture at the forefront. Agriculture contributes 21.87% to the GDP and provides employment to over 36% of the population. The Nigerian Export Promotion Council (NEPC) has been instrumental in driving the country’s agricultural exports, setting ambitious targets and supporting value chain enhancements. For example, the NEPC is aiming to generate $500M from cashew exports.

It is a global leader in sesame seed and cashew nut exports. In 2023, the country produced a record 581,000 metric tons of sesame seeds and 220,000 metric tons of raw cashew nuts. This places is Africa’s fifth-largest cashew producer after Côte d’Ivoire, Guinea-Bissau, Benin and Tanzania. Cashew producing states are Kaduna, Abia, Kogi, Enugu, Kwara, Oyo, Niger, Imo, and Abuja FCT. While Kogi leads the pack, accounting for 60 per cent of the country’s total output, Oyo State, Ogbomosho, is another cashew destination known for the best quality cashew, which has endeared the heart of importing countries.