By Our Correspondent
Nigeria and Vietnam have entered into a strategic partnership aimed at enhancing cashew production, processing, and trade, according to the National Cashew Association of Nigeria (NCAN).
NCAN announced that a Memorandum of Understanding (MoU) was signed with the Vietnam Cashew Association (VINACAS) during the 14th VINACAS Golden Cashew Rendezvous 2025, held in Hanoi, Vietnam.
The three-day event, which took place from October 26 to 28, marked VINACAS’ 35th anniversary and brought together global stakeholders across the cashew value chain.
A joint communiqué issued after the signing stated that the agreement seeks to promote bilateral trade, technology transfer, and collaboration to strengthen both countries’ positions in the global cashew industry.
The MoU was signed by Mr. Pham Van Cong, President of VINACAS, and Dr. Ojo Joseph Ajanaku, President of NCAN, representing Vietnam and Nigeria respectively.
According to VINACAS, the partnership will focus on promoting trade in raw and processed cashew, exchanging processing technologies, encouraging joint investments, and developing sustainable cashew farming practices in both countries.
Pham noted that VINACAS, which has more than 500 member companies, would share its industrial experience and technological expertise with Nigeria to help build local capacity and improve product quality.
He reaffirmed VINACAS’ commitment to enhancing cooperation with Nigeria to drive mutual growth and strengthen global competitiveness in the cashew sector.
Speaking on behalf of Nigeria, Dr. Ajanaku described the agreement as a milestone for Nigeria’s agricultural and non-oil export economy.
He disclosed that Nigeria exported cashew worth $420 million to Vietnam in 2025, adding that the partnership would enhance production efficiency and expand market access for Nigerian products.
Ajanaku further explained that the collaboration would promote value addition through modern processing technologies and product diversification, including cashew-based beverages and by-products.
He also revealed that Kogi cashew received special recognition at the Hanoi conference as the most nutritious globally—a recognition the new partnership aims to leverage through innovation and research.
He added that machinery and expertise from Vietnam would help Nigeria expand processing capacity, create rural jobs, and strengthen economic diversification efforts.
The communiqué noted that both associations agreed to establish a joint working committee to monitor the implementation of the MoU and report progress annually.
It added that the signing ceremony was witnessed by senior officials from relevant Nigerian government agencies, financial institutions, and private sector representatives.
The communiqué further stated that the delegation comprised stakeholders from trade, export, and agricultural development bodies from both countries, all expressing commitment to the successful implementation of the agreement.
Providing background, NCAN highlighted that Nigeria is among Africa’s top cashew producers, contributing over 500,000 metric tonnes annually, and exporting mainly to Vietnam and India.
The association added that increasing domestic processing capacity could raise Nigeria’s cashew export earnings to over $500 million annually, creating thousands of rural jobs.
The event also attracted key Nigerian stakeholders, including Muhammed Tukur Usman (Director, FDA-FMAS); Mr. Babagana Musti (NEXIM Bank representative); Jude Osilama and Evidence Iyamu (NCAN exporters); Mr. Victor Omofaiye (Director-General, Kogi State Commodity Exchange, Export Promotion and Market Development Agency – KOSCEPA); Alhaji Abu Muhammed Kabir (NCAN Financial Secretary); and Tchidi Okike Zacchaeus (merchant farmer).
