Natari x Kogi
Cashew Project
A 200 TPD Cashew Nut Processing Plant in Lokoja, Kogi State, Nigeria. A 3-Phase Equity Investment transforming Nigeria’s cashew industry.
Why Invest
Empowering Communities.
Sustaining Livelihoods.
Register for exclusive access to project documents, investment summaries, financial projections, and direct communication with the Natari Group investment team.
Project Documents
Access prospectus, financial models, legal structure and project timelines.
Investment Tracking
Monitor live investment progress with real-time tentative and confirmed bars.
Direct Enquiry
Send your investment message directly to the Natari team from your dashboard.
NATARI INTEGRATED KOGI LTD
The Cashew Project
200 TPD Cashew Nut Processing Plant • Lokoja, Kogi State
3-Phase Equity Investment • $68M Programme • Phase 1: $18M • March 2026
$18M
Phase 1 — Start Now
$68M
Total Programme
200 TPD
Full Capacity
Q4 2027
Revenue Starts
THE PROBLEM
The Structural Gap
Nigeria sits on a cashew goldmine — and ships it all away unprocessed.
<10%
Of annual cashew harvest processed domestically
>90%
Exported raw — value captured by Vietnam & India
3–5x
Value uplift lost per tonne: $400–600/MT vs $750–1,500/MT
7 of 12
Existing processing facilities operational — huge supply gap
ZERO
Modern fully-automated facilities in North-Central RCN belt
THE OPPORTUNITY
First-Mover Advantage in Nigeria’s Most Productive Cashew Corridor
Nigeria is Africa’s 4th-largest cashew producer with rapidly accelerating export revenues — $219M H1 2024 rising to $398M H1 2025, an 81% surge in one year. Kogi State sits at the geographic heart of this production corridor. No investor has yet built a modern, full-automatic facility here. The first-mover advantage is real, measurable and available now.
THE SOLUTION
A Fully-Automated, Zero-Waste Complex
Four revenue streams from one input. Nigeria’s most advanced cashew processing facility, built in 3 phases on 20.154 Ha in Lokoja.
01
CASHEW KERNELS
W180/W240/W320/W450 — Export-grade, ready-to-eat. Target: EU, US, India, Asia.
72%
of total revenue
02
CNSL OIL
Cashew Nut Shell Liquid — Industrial resins and polymers. $350–$600/MT.
18%
of total revenue
03
TESTA FERTILISER
Organic pelletised fertiliser. Sold to Kogi smallholders. $80–$150/MT.
6%
of total revenue
04
BIOMASS FUEL
Shell pellets for energy — 15–20% plant energy saving. $40–$80/MT.
4%
of total revenue
PLANT AT A GLANCE
Technical Specifications
| Full Capacity | 200 TPD Raw Cashew Nut (RCN) |
| Annual Throughput | 60,000 MT/year (300 working days) |
| Kernel Output | ~50 TPD finished kernel per day |
| Automation | Full-Automatic + Traceability |
| Power | 3,025 kW/hour |
| Labour (Full Ops) | 986 workers |
| Site | 20.154 Ha — Lokoja, Kogi State |
| Technology | VCM Vietnam machinery, Thai EPC oversight |
MARKET OPPORTUNITY
TAM / SAM / SOM — Global Cashew Market Growing to $14.6B by 2031
TOTAL ADDRESSABLE MARKET
$9.9B (2025)
Growing to $14.6B by 2031 at 6.74% CAGR
Global cashew market — kernels, CNSL, by-products. Driven by health snacking, plant-based diets and food processing in US, EU and Asia.
SERVICEABLE ADDRESSABLE MARKET
$3.3B (2025)
Growing to $5.0B by 2031 at 7.25% CAGR
West Africa commands 84.6% of African cashew production. Nigeria’s export revenue grew 81% in one year to $398M H1 2025 — fastest-growing market.
SERVICEABLE OBTAINABLE MARKET
$45M+ (Year 3)
200 TPD x 300 days x ~$750–800/MT kernel ASP
Conservative 30% Year 1 ramp, full capacity Year 3. CNSL and fertiliser add incremental revenue on top of kernel base.
INVESTMENT STRATEGY
Build It Phase by Phase
Capital drawn in milestone-gated tranches. Revenue funds the next phase. Investors see performance before committing more.
FINANCIAL PROJECTIONS
5-Year Illustrative Forecast
200 TPD capacity ramp from 30% Year 1 to 100% by Year 5. Kernel ASP ~$1,000–$1,500/MT (W320). Detailed model available on request.
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| Capacity Utilisation | 30% | 60% | 85% | 95% | 100% |
| RCN Processed (MT) | 18,000 | 36,000 | 51,000 | 57,000 | 60,000 |
| Kernel Revenue | $4.5M–$6.8M | $9M–$13.5M | $12.75M–$19M | $14M–$21M | $15M–$22M |
| Total Gross Revenue | ~$6.3M | ~$12.6M | ~$24M | ~$27M | ~$28M |
| EBITDA (Illustrative) | ~$5.6M | ~$11.9M | ~$23.3M | ~$26.3M | ~$27.3M |
MARKET VALIDATION & TRACTION
Mandate Confirmed. FEED Complete. Already In Motion.
Formal EPC Mandate Executed
Saencharoen Trading 2018 Co. Ltd. (Bangkok) formally appointed as Business & Factory Consultant — January 2026.
FEED Documentation Complete
Front-End Engineering Design at Rev. 00. Draft layouts, equipment flow diagrams, site schematics (20.154 Ha) — February 2026.
Supplier Quotes In Hand
VCM Vietnam proforma invoice: $5.1M–$6.5M for 200 TPD full automation. Comparative analysis complete — Vietnam selected.
Nigeria Export Market Surging
Cashew export value grew 81% from H1 2024 to H1 2025, reaching $398M — now Nigeria’s 3rd-largest non-oil export.
Government Support & Policy
5-year tax holidays; NEPC Export Expansion Facility grants; Kogi State targeting 70% domestic processing by 2030. KSTPDB and COREN pathway defined.
Ebonyi Hydroponic Pipeline
Natari NIG LTD pre-selected for Ebonyi State Ministry of Agriculture hydroponic project — demonstrating active government relationships.
IMPACT & VISION
Why This Project Matters
Nigeria has the raw material, the land, the farmers and the ambition. What it needs now is the capital and technology to process what it grows. This is that investment.
— Dr. Eseni Ibiam Orji, Founder & MD
1,200+
Direct jobs created at full operation
400,000+
Smallholder farmers get better prices
3–5x
Value uplift retained in Nigeria
Zero-waste
100% of shell and testa valorised
THE PHASED ASK
BUILD IT PHASE BY PHASE.
$68M total. $18M to start. Revenue-funded growth to full capacity.
~$68M
Total Programme
$18M
Phase 1 — Q2 2026
Q4 2027
Revenue Starts
$24M–$28M
Year 5 Revenue
Dr. Eseni Ibiam Orji