In Kogi State. Cashew farmers praise Ododo’s policy as price climb to N1.8m per tonne

March 28, 2026

By Sam Biodun Ogundipe in London

Cashew growers in Nigeria, under the umbrella of the National Cashew Association of Nigeria (NCAN), have commended Kogi State Governor, Usman Ododo, for implementing a pricing policy, which according to them, stabilised the market and pushed the commodity’s value to about N1.8 million per tonne.

Speaking in an interview on Friday, NCAN National President, Dr Ojo Ajanaku, described the governor’s action as a bold and patriotic step that has protected farmers from years of price manipulation.

Ajanaku said the Kogi State government’s strict enforcement of its cashew procurement framework has prevented foreign buyers from purchasing the produce directly at the farm gate, a move he noted has helped maintain fair pricing.

According to him, the state adopted the Kogi State Cashew Procurement Policy, which aligns with an earlier directive by the Federal Executive Council (FEC) that restricts foreign traders from direct farm-gate purchases.

He explained that the development has brought relief to farmers who, for years, faced sharp price drops driven by external buyers.

We have been in this sector for a long time. Personally, I have spent more than three decades in the cashew industry,” Ajanaku said.

He recalled that over the past decade, foreign buyers often influenced the market during the harvesting season, particularly around the Salah festivities, when many farmers were eager to sell their produce quickly for cash.

“They usually take advantage of farmers’ situation to control prices and deliberately push them down, which has been unfair to producers,” he said.

Ajanaku noted that with the current policy in place, cashew prices have remained stable at about N1.8 million per tonne, a development he described as unprecedented in recent years.