Agusto & Co’s 2025 Cashew and Sesame report provides a comprehensive review of two of Nigeria’s most important non-oil export commodities. Globally, cashew and sesame remain high-demand products, driven by their nutritional value, diverse applications, and rising consumption in health-conscious and plant-based markets. Nigeria ranks among the top 10 global producers of cashew and is also the fourth-largest exporter of sesame. These two commodities together contribute significantly to the country’s foreign exchange earnings, with agricultural exports reaching ₦4.43 trillion in 2024 – surpassing imports for the first time in years. Nigeria’s cashew industry is largely driven by smallholder farmers, with Kogi, Oyo, and Kwara States among the largest producers. In 2024, cashew production stood at 350,000 metric tonnes. While 85% of harvested nuts are exported, limited domestic processing capacity constrains value capture. The sesame industry is similarly structured, with production concentrated in Northern States like Jigawa, Benue, and Nasarawa. In 2024, sesame exports generated up to ₦1 trillion in revenue. However, both industries face common challenges including inadequate infrastructure, limited access to finance, post-harvest losses, and stringent international quality requirements.
Despite these challenges, both value chains present strong growth opportunities. There is increasing investment in processing infrastructure, aggregation models, and partnerships with international buyers (such as Vietnam for cashew). Exporters who incorporate value addition – such as producing kernels, oils, or hulled sesame seeds – typically enjoy significantly higher profit margins. Innovations in packaging, branding, and quality assurance are also enhancing competitiveness in international markets. The report highlights that well-run processors can achieve profit margins of 30–40%, particularly when supported by efficient sourcing, mechanisation, and quality certification. Looking ahead, improving productivity, processing capacity, and access to finance remain vital to unlocking the full potential of Nigeria’s cashew and sesame markets. Policy support through export incentives, credit schemes, and quality standard enforcement will be crucial. With consistent investment and regulatory alignment, the sectors are well-positioned to deepen their contribution to non-oil exports and support inclusive economic growth, particularly in rural communities. Agusto & Co. believes that continued improvements across the value chains will strengthen Nigeria’s standing as a global player in both commodities.
This report provides useful insights into various aspects of the Nigerian Cashew & Industry. Key benefits of the report include:
