The National Cashew Association of Nigeria (NCAN), has reiterated the need to properly fund the cashew industry to ensure value addition and increased exportation.

This is contained in a statement signed by Mr Sotonye Anga, the National Secretary of the association made available to newsmen last Thursday in Lagos by .

Anga said this during the association’s courtesy visit to NEXIM Bank Headquarters, Abuja, in preparation for the forthcoming NEXIM and NCAN 2013 Cashew Financing Forum, 2013.

"NEXIM and NCAN cashew financing forum is leveraging on the Nigerian cashew cluster finance scheme which was signed during the 2012 annual National cashew season flag off in Ilorin, Kwara State.

"Cashew in Nigeria provides livelihood for over 300,000 families in the country, with current annual production put at 120,000 tonnes.

"Unlocking financing to the cashew sector means creating more jobs for our people, reducing poverty and ensuring increased exports of cashew and will encourage value addition to raw cashew."

Anga, who is also the Chairman of the Local Organising Committee (LOC) of the event, noted that serious funding was required to grow the cashew sector.

He stressed that cashew traders, cashew exporters, cashew farmers, cashew processors and other stakeholders across the value chain, needed access to financing to be able to grow their businesses.

"We appreciate NEXIM Bank for again taking up the challenge to finance and support the cashew sector for growth.

"What NEXIM is doing is highly commendable and in line with the Agricultural Transformation Agenda of the Federal Government of Nigeria.

"With this, cashew traders, cashew exporters, cashew farmers, cashew processors and other stakeholders across the value chain will be able to access financing at a pocket friendly rate to improve their cashew businesses," he said.