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 stated that the 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, from Oct. 26 to Oct. 28, marked the 35th anniversary of VINACAS and brought together global stakeholders across the cashew value chain.
A joint communiqué issued after the signing stated that the agreement would 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.
VINACAS said the partnership would 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, with 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, Ajanaku described the agreement as a milestone for Nigeria’s agricultural and non-oil export economy.
He said Nigeria exported cashew worth 420 million dollars to Vietnam in 2025, adding that the partnership would enhance production efficiency and expand market access for Nigerian products.
Ajanaku explained that the collaboration would boost value addition through modern processing technologies and product diversification, including cashew-based beverages and by-products.
According to him, Kogi cashew was specially recognised at the Hanoi conference as the most nutritious globally, a recognition the new partnership seeks to leverage through innovation and research.
He added that machinery and expertise from Vietnam would help Nigeria expand its processing capacity, create rural jobs, and strengthen economic diversification efforts.
The communiqué said 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 agencies, financial institutions, and representatives of the organised private sector.
The communiqué further noted that the delegation included stakeholders from trade, export, and agricultural development bodies from both countries who expressed commitment to the successful implementation of the agreement.
Providing background, NCAN said 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 increased processing capacity could raise Nigeria’s cashew export earnings to more than 500 million dollars annually, creating thousands of jobs across rural communities.
The event also attracted key Nigerian stakeholders, including Muhammed Tukur Usman, Director, FDA-FMAS; Mr. Babagana Musti, representative of NEXIM Bank; 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, a merchant farmer.