By Philomina Brando
Nigeria and Vietnam have entered into a strategic partnership to advance cashew production, processing, and trade between the two countries. The collaboration was formalized through a Memorandum of Understanding (MoU) signed between the National Cashew Association of Nigeria (NCAN) and the Vietnam Cashew Association (VINACAS) during the 14th VINACAS Golden Cashew Rendezvous 2025 in Hanoi, Vietnam.
The three-day global event, held from October 26 to 28, marked VINACAS’ 35th anniversary and brought together international stakeholders in the cashew value chain.
Speaking at the ceremony, Dr. Ojo Joseph Ajanaku, National President of NCAN, said the agreement aims to promote bilateral trade, technology transfer, and cooperation that will strengthen both nations’ positions in the global cashew market. He described the MoU as a major achievement for Nigeria’s agricultural and non-oil export sectors.
Dr. Ajanaku noted that the recognition of Kogi Cashew as the most nutritious cashew in the world at the Hanoi conference underscored Nigeria’s growing influence in the global industry. “This agreement will deepen trade in both raw and processed cashew, encourage joint investments, and promote sustainable farming practices,” he stated.
According to him, Nigeria exported cashew worth $420 million to Vietnam in 2025 and expects the new partnership to further enhance production efficiency, improve quality standards, and expand export opportunities. He added that Vietnam’s expertise in cashew processing and technology would help Nigeria boost its capacity and drive economic diversification.
Both associations agreed to form a joint working committee to oversee the implementation of the MoU and review progress annually. The signing ceremony was attended by senior Nigerian government officials, financial institutions, and private sector representatives.
Members of the Nigerian delegation included Muhammed Tukur Usman, Director, FDA-FMAS; Mr. Babagana Musti of NEXIM Bank; exporters Jude Osilama and Evidence Iyamu; 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 merchant farmer Tchidi Okike Zacchaeus.
NCAN reaffirmed Nigeria’s position as one of Africa’s top cashew producers, contributing over 500,000 metric tonnes annually, mainly exported to Vietnam and India. With improved processing capacity, the association projects annual export earnings could exceed $500 million while creating thousands of jobs in rural communities.
The Nigeria–Vietnam Cashew Partnership is expected to consolidate both countries’ leadership in the global cashew industry through enhanced trade, processing, and innovation.