HSF Foods Limited has opened an automated cashew and oil processing plant in Abuja’s Idu Industrial Zone.
HSF, managed by 27-year-old Said Umar, claims to be Abuja’s largest mechanised cashew processing factory and one of the largest in the country, with a 1,800MT per year capacity factory that can also produce up to 3,600MT per year with night shift working hours.
Mr. Emeka Offor, acting Executive Secretary/CEO of NIPC, who was a guest of honor at the commissioning on Saturday, congratulated HSF and stated that NIPC is committed to working closely with them to ensure the project’s sustainability. “We’ll be there for you every step of the way,” he promised.
The Nigerian Investment Promotion Commission (NIPC) is a Federal Government Agency in Nigeria that was established by the NIPC Act No. 16 of 1995 to encourage, promote, and coordinate investments in Nigeria.
According to the NIPC CEO, “the Nigerian Export Promotion Council (NEPC), the agency responsible for developing and promoting the country’s exports, launched the National Strategic Export Products (NSEP) program in 2016, to expand growth in the non-oil sector.”
“Given its priority status, Nigeria also offers cashew investors up to a five-year tax holiday, including zero-export and import duty on agricultural inputs and equipment,” he said.
While congratulating HSF foods, he urged them to take advantage of these incentives, explaining that “cashew is recognized as one of the five priority agro-industrial products (others being palm oil, cocoa, sugar, and rice) among the thirteen NSEP.”
According to HSF Foods, the company was founded with the goal of addressing shortfalls in Nigeria’s agricultural value chain, and it produces cashew kernels of various grades as well as cashew nut shelliquid (CNSL).