The Oyo State House of Assembly has moved to protect Oyo Cashew Farmers<\/strong> while setting clear rules for foreign investors in the state\u2019s cashew industry.<\/p>\n\n\n\n This follows a report presented yesterday at plenary by the House Joint Committee on Agriculture and Rural Development and Commerce and Cooperatives, which investigated a petition by the National Cashew Association of Nigeria (NCAN) regarding compliance with farm-gate and packaging regulations.<\/p>\n\n\n\n The report was read at plenary by the Chairman of the Committee, Hon. Peter Ojedokun<\/p>\n\n\n\n The Committee found that Oyo State is a major producer of cashew nuts, contributing significantly to the state\u2019s Internally Generated Revenue (IGR).<\/p>\n\n\n\n While the Federal Government banned foreigners from farm-gate activities in March 2022, foreign investors remain vital to the export segment of the industry, purchasing large quantities from licensed warehouses rather than directly from farmers.<\/p>\n\n\n\n The investigation also revealed that the use of synthetic materials for packaging raw cashew nuts violates international trade standards, and unregulated foreign buying at farm gates disrupts local buying agents and merchants.<\/p>\n\n\n\n In light of these findings, the Committee recommended that Governor Seyi Makinde\u2019s administration be commended for creating a secure and investment-friendly environment.<\/p>\n\n\n\n It also urged the relevant government ministries to ensure that foreign investors operate within designated export zones, farmers and traders use only jute bags for packaging, and licensed local buying agents, merchants, and exporters work together to strengthen the cashew value chain.<\/p>\n\n\n\n Additionally, law enforcement agencies were called upon to enforce existing regulations to maintain stability and economic growth in the sector.<\/p>\n\n\n\n The report noted that protecting local farmers while regulating foreign participation is essential for sustaining Oyo State\u2019s cashew industry and enhancing its economic contribution.<\/p>\n","protected":false},"excerpt":{"rendered":" Oyo Assembly Moves to Protect Local Cashew Farmers, Strengthens Rules on Foreign Investors The Oyo State House of Assembly has moved to protect Oyo Cashew Farmers while setting clear rules for foreign investors in the state\u2019s cashew industry. This follows a report presented yesterday at plenary by the House Joint Committee on Agriculture and Rural…<\/p>\n","protected":false},"author":1,"featured_media":3140,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","footnotes":""},"categories":[1,528,30,38,2,35],"tags":[2548,2547,2549,2552,2551,2555,2550,2553,2554,558],"class_list":["post-3138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-business-economy","category-environment","category-news","category-politics","category-world","tag-agricultural-policy-oyo","tag-cashew-industry-nigeria","tag-cashew-trade-compliance","tag-farm-gate-regulations","tag-foreign-investment-nigeria","tag-national-cashew-association-of-nigeria","tag-nigeria-agribusiness-news","tag-oyo-agriculture-news","tag-oyo-cashew-farmers","tag-oyo-state-house-of-assembly"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t