Nigeria and Vietnam have officially sealed a landmark deal to expand cooperation in cashew production, processing, and global trade. The partnership was formalized through a Memorandum of Understanding (MoU) signed between the Vietnam Cashew Association (VINACAS) and the National Cashew Association of Nigeria (NCAN).
The signing took place during the 14th VINACAS Golden Cashew Rendezvous 2025 in Hanoi, Vietnam, marking the 35th anniversary of VINACAS. The pact aims to enhance bilateral trade, promote technological collaboration, and position both countries as global leaders in the cashew value chain.
VINACAS President Mr. Pham Van Cong represented Vietnam, while Dr. Ojo Joseph Ajanaku, President of NCAN, signed on behalf of Nigeria.
According to a joint communiqué, the agreement will promote technology transfer, capacity building, and joint investment in value-added cashew processing. Mr. Pham highlighted that VINACAS, with over 500 member companies, represents Vietnam’s largest cashew processors, exporters, and growers. He assured that Vietnam will share its advanced technology and expertise with Nigeria to strengthen the latter’s processing and export base.
Dr. Ajanaku described the partnership as a major breakthrough for Nigeria’s non-oil export sector, emphasizing its potential to boost job creation and rural development. He revealed that Nigeria exported cashew worth $420 million to Vietnam in 2025 alone, underscoring Vietnam’s importance as Nigeria’s top cashew trading partner.
He added that Kogi State’s cashew received international recognition at the event as the most nutritious in the world. The new partnership, he said, will leverage this reputation to diversify products and develop cashew-based juice production, powered by technology from Vietnam.
“Kogi cashew has the best nutrients and flavour globally. Through this collaboration, we’ll explore juice production and other by-products to open new export opportunities for Nigeria,” Ajanaku said.
He added that the machinery and expertise coming from Vietnam will enhance local processing, increase productivity, and drive Nigeria’s economic diversification agenda.
Nigeria currently produces over 500,000 metric tonnes of cashew annually, exporting mainly to Vietnam and India. With this partnership, both countries are expected to increase their share in the $7 billion global cashew market.
The event attracted key Nigerian stakeholders including Muhammad Tukur Usman (FDA-FMAS Director), Mr. Babagana Musti (NEXIM Bank), Mr. Victor Omofaiye (DG, Kogi State Commodity Exchange), and several NCAN exporters and officials.
Experts believe the MoU could transform Nigeria’s agricultural economy by improving export quality, strengthening agro-industrial collaboration, and reducing post-harvest losses through advanced processing techniques.