Nigeria and Vietnam have opened formal talks to deepen cooperation in the cashew sector and attract investment.
The discussions aim to boost local cashew processing, reduce raw exports, and improve the entire value chain.
National Cashew Association of Nigeria, NCAN, held a closed-door meeting with Vietnamese officials led by Ms Nguyen Phuong on Wednesday April 9, 2025.
NCAN President, Dr Ojo Ajanaku, said both parties are working to sign contracts and implement trade agreements soon.
“We are confident these talks will yield results that benefit Nigerian farmers and processors,” he stated in Abuja.
Ajanaku confirmed the establishment of a Joint Trade Committee (JTC) and several Memoranda of Understanding (MoUs).
“These agreements will support long-term investment and create new opportunities for technology transfer,” he said.
He praised Vietnam’s willingness to share processing technology with Nigeria.
“This time, they are offering the technology. We didn’t buy it. We didn’t steal it,” Ajanaku noted.
He said the move marks a turning point for Nigeria’s cashew farmers and exporters.
“Farmers have prayed for this. Now, their produce will earn what it truly deserves,” he said confidently.
He added that local processing will now handle most of the country’s cashew output.
“This will reduce our reliance on foreign processors and boost job creation,” Ajanaku explained.
He called on Nigerian farmers to stay committed and support the initiative.
“Nigeria has the climate to grow world-class cashew. Let’s maximise that natural advantage,” he urged.
Vietnam ranks as a top global cashew producer and has long imported raw nuts from Nigeria.
This renewed partnership could reposition Nigeria as a cashew processing hub in West Africa.
The agreement is expected to enhance revenue, create employment, and promote industrial growth in Nigeria’s agricultural sector.