Cardinal Touch Company Ltd., a Nigerian agro-commodity trader, is expanding its operations into cashew processing with a N4.5 billion investment. The company, based in Lagos, plans to establish a state-of-the-art processing facility in the southern part of the country. This move is part of a broader strategy to increase value addition along the cashew supply chain. The investment is expected to create hundreds of jobs and boost local production.
The project is anticipated to be completed within two years, with the first phase focusing on sorting, cleaning, and drying of cashew nuts. The company has partnered with local farmers to ensure a steady supply of raw materials. This initiative aligns with Nigeria’s efforts to reduce reliance on imports and promote industrialization in the agricultural sector.
The Nigerian government has expressed support for the project, highlighting its potential to contribute to economic growth and rural development. The investment underscores the growing interest in cashew processing as a viable export opportunity. (businessday.ng)
