Joel Ajayi
Nigeria and Vietnam have entered into a landmark partnership aimed at transforming cashew production, processing, and trade between the two nations.
The agreement, formalized through a Memorandum of Understanding (MoU) between the National Cashew Association of Nigeria (NCAN) and the Vietnam Cashew Association (VINACAS), was signed during the 14th VINACAS Golden Cashew Rendezvous 2025 held in Hanoi, Vietnam.
The three-day event, held from October 26 to 28, commemorated VINACAS’ 35th anniversary and brought together global leaders and stakeholders in the cashew value chain.
Speaking at the signing, the National President of NCAN Dr. Ojo Joseph Ajanaku, said the MoU will to promote bilateral trade, technology transfer, and collaboration that will strengthen both nations’ competitiveness in the global cashew industry.
He expressed that, the recognition of Kogi cashew at the Hanoi conference reaffirmed Nigeria’s rising status in the global cashew industry.
Under the partnership, both countries will promote trade in raw and processed cashew, exchange processing technologies, encourage joint investments, and develop sustainable cashew farming practices.
Dr. Ajanaku described the partnership as a major milestone for the nation’s agricultural and non-oil export sector. He revealed that Nigeria exported $420 million worth of cashew to Vietnam in 2025 and expressed optimism that the collaboration would further improve production efficiency and expand market access for Nigerian products.
“This partnership will enhance value addition through modern processing technologies, promote diversification into cashew-based beverages and by-products, and create more jobs for rural communities,” Ajanaku said.
In a remarkable highlight, Kogi Cashew was specially recognized at the Hanoi conference as the most nutritious cashew in the world — a distinction that underscores Nigeria’s growing reputation in the global market. Ajanaku noted that the new partnership would leverage this recognition through continued innovation, research, and quality improvement.
He added that Vietnam’s machinery and technical expertise would play a crucial role in helping Nigeria expand its processing capacity and drive economic diversification.
Both associations agreed to set up a joint working committee to monitor the implementation of the MoU and report progress annually.
The signing ceremony was witnessed by senior Nigerian officials, representatives of financial institutions, and members of the organized private sector.
Among the Nigerian delegation were Muhammed Tukur Usman, Director, FDA-FMAS; Mr. Babagana Musti, representing NEXIM Bank; Jude Osilama and Evidence Iyamu, NCAN exporters; Mr. Victor Omofaiye, Director-General of the Kogi State Commodity Exchange, Export Promotion, and Market Development Agency (KOSCEPA); Alh. Abu Muhammed Kabir, NCAN Financial Secretary; and Tchidi Okike Zacchaeus, a merchant farmer.
NCAN therefore emphasized that Nigeria remains one of Africa’s top cashew producers, contributing over 500,000 metric tonnes annually with exports mainly to Vietnam and India. With improved processing capacity, the association projects that Nigeria’s cashew export earnings could surpass $500 million annually, creating thousands of new jobs and strengthening the nation’s rural economy.
The new Nigeria–Vietnam cashew partnership marks a major step toward positioning both countries as global leaders in cashew trade and innovation.
