By Musa Ibrahim
The Nigeria Export-Import (NEXIM) Bank reaffirmed its commitment to strengthening Nigeria’s cashew industry during the 4th edition of Nigeria Cashew Day (NCD) held on 22nd January 2026 at the Shehu Musa Yar’adua Centre, Abuja.
The event, organized by the National Cashew Association of Nigeria (NCAN) in collaboration with the African Cashew Alliance (ACA), focused on ‘Unlocking the Full Potential of Nigeria’s Cashew Industry through Investment, Innovation and Global Trade.’
Mr. Abba Bello, Managing Director of the NEXIM bank, represented by Dr. Babagana led the bank’s delegation who joined other industry stakeholders to discuss strategies for boosting sustainable growth in the cashew value chain. The bank highlighted its role in supporting agribusiness exports, facilitating value addition, and improving Nigeria’s global competitiveness in non-oil exports.
Speaking at the event, NCAN President, Dr. Ojo Joseph Ajanaku, noted that Nigeria currently exports close to 600,000 metric tonnes of cashew annually, generating over $400 million in foreign exchange. However, he stressed that much of the industry’s potential remains untapped due to limited local processing and access to low-cost financing. He emphasized that institutions such as NEXIM Bank are critical in providing export development facilities and special agro-processing loans at favorable interest rates, enabling processors to scale operations, add value to raw products, and access global markets.
“NEXIM’s support is vital to enabling processors to compete globally, increase domestic processing, and expand exports,” Ajanaku said. He noted that greater financial backing would allow Nigeria to leverage advantages such as faster shipping times to key markets, while boosting domestic consumption of value-added cashew products like roasted nuts, cashew milk, and cashew oil.
NEXIM Bank’s participation at Nigeria Cashew Day reinforces its ongoing mandate to promote value addition, enhance export competitiveness, and strengthen the non-oil sector. By providing targeted financing, technical support, and market access programs, the bank seeks to position Nigeria as a leading cashew producer and exporter in Africa and globally.
Dr. Babagana highlighted NEXIM Bank’s dedication to supporting agribusiness export growth, stating, “We remain committed to enabling value addition, facilitating global market access, and strengthening Nigeria’s non-oil export sector. The cashew industry represents a strategic opportunity for export-led growth and job creation, and NEXIM will continue to partner with stakeholders to unlock its full potential.”
The event also provided a platform for discussions on improving production tracking, expanding local processing capacity, and enhancing investment in the cashew value chain. With institutions like NEXIM Bank actively driving these efforts, Nigeria’s cashew sector is poised for significant growth, increased value addition, and stronger contribution to the country’s non-oil export earnings.
