Nigeria, Vietnam Seal Cashew Partnership

Nigeria and Vietnam have entered into a historic partnership to deepen cooperation in cashew production, processing, and trade, following the signing of a Memorandum of Understanding (MoU) between the Vietnam Cashew Association (VINACAS) and the National Cashew Association of Nigeria (NCAN).

The pact was formalised during the 14th VINACAS Golden Cashew Rendezvous 2025, held in Hanoi, Vietnam, from October 26–28, in celebration of the 35th anniversary of the Vietnamese Cashew Association.

VINACAS President, Mr. Pham Van Cong, signed on behalf of Vietnam, while Dr. Ojo Joseph Ajanaku, President of NCAN, represented Nigeria during the official signing ceremony.

According to the joint communiqué issued after the event, the agreement is expected to enhance bilateral business exchange, promote technology transfer, and position both nations as major players in the global cashew value chain.

Mr. Pham noted that VINACAS, with over 500 member companies, represents Vietnam’s leading cashew processors, exporters, importers, and growers, stressing the association’s commitment to sharing expertise and best practices with Nigeria.

Speaking on behalf of Nigeria, Dr. Ojo Ajanaku described the agreement as a breakthrough for Nigeria’s agricultural sector, especially the non-oil export economy.

Ajanaku said Nigeria exported cashew worth 420 million dollars to Vietnam in 2025, adding that the partnership would improve production efficiency and expand market access for Nigerian products.

According to him, Nigeria’s Kogi cashew was specially recognised at the conference as the most nutritious in the world — a status that the new MoU seeks to leverage through product diversification and technology-driven processing.

“Kogi cashew has the best nutrients and flavour globally. One of the focus areas of our collaboration with Vietnam is to develop cashew-based juice production. Through this technology exchange, we intend to harness the by-products and create new export opportunities for Nigeria,” Ajanaku said.

He added that the machinery and expertise coming from Vietnam would support Nigeria’s efforts to build local processing capacity and increase output, thereby contributing to economic diversification and rural employment.

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 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, DG 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.