Nigeria to Sell $7b Cashew Nuts to Walmart

By Modupe Gbadeyanka

Minister of Agriculture and Rural Development, Mr Audu Ogbeh, has disclosed that plans were underway to supply roasted cashew nuts worth $7 billion to Walmart Stores in the United States of America (USA).

Mr Ogbeh made this known while addressing newsmen in Abuja on Wednesday after the weekly Federal Executive Council (FEC) meeting presided over by the Acting President, Mr Yemi Osinbajo.

The Minister revealed that the management of the US-based firm was in Nigeria and demanded for about 130,000 tonnes of roasted cashew nuts to be supplied to them.

“Their (Walmart) management came here (Nigeria) recently and requested we supply them about 130,000 tonnes of roasted cashew nuts per annum with a total value is $7 billion.

“We assured them to meet this target and we will do this.

“This is part of the progress of this administration. They may look small, but they go a long way to boost our economy.

“It means more returns for cashew farmers in the country. You can see that our diversification agenda is yielding good results,” Mr Ogbeh said.

He further said that before the end of 2017, not less than six cashew processing factories would be established in Nigeria.

“Each of the plants would be situated in Benue, Enugu, Kogi, Kwara, Imo and Oyo States. These are the cashew belt for now,” the Minister disclosed.