Nigeria and Vietnam have entered into a strategic partnership to enhance cashew production, processing, and trade, the National Cashew Association of Nigeria (NCAN) has announced.
According to NCAN, a Memorandum of Understanding (MoU) was signed with the Vietnam Cashew Association (VINACAS) during the 14th VINACAS Golden Cashew Rendezvous 2025, held in Hanoi, Vietnam.
The three-day event, which ran from October 26 to 28, marked the 35th anniversary of VINACAS and brought together global stakeholders in the cashew value chain.
A joint communiqué issued after the signing stated that the agreement aims to promote bilateral trade, technology transfer, and collaboration to strengthen both countries’ positions in the global cashew industry.
The MoU was signed by Mr. Pham Van Cong, President of VINACAS, and Dr. Joseph Ajanaku, President of NCAN, representing Vietnam and Nigeria respectively.
VINACAS said the partnership will focus on promoting trade in raw and processed cashew, exchanging processing technologies, encouraging joint investments, and developing sustainable cashew farming practices in both countries.
Pham noted that VINACAS, which has more than 500 member companies, would share its industrial experience and technological expertise with Nigeria to help build local capacity and improve product quality.
He reaffirmed VINACAS’ commitment to strengthening cooperation with Nigeria to drive mutual growth and enhance global competitiveness in the cashew sector.
Speaking on behalf of Nigeria, Dr. Ajanaku described the agreement as a milestone for Nigeria’s agricultural and non-oil export sector.
He revealed that Nigeria exported cashew worth $20 million to Vietnam in 2025, adding that the partnership would help improve production efficiency and expand market access for Nigerian products.
Ajanaku said the collaboration would also drive value addition through modern processing technologies and product diversification, including cashew-based beverages and by-products.
According to him, Kogi cashew was specially recognised at the Hanoi conference as the most nutritious globally, a recognition the new partnership seeks to leverage through research and innovation.
He added that machinery and technical expertise from Vietnam would support Nigeria in expanding its processing capacity, creating rural employment, and advancing economic diversification efforts.
The communiqué stated that both associations agreed to establish a joint working committee to monitor the implementation of the MoU and report progress annually.
It added that the signing ceremony was witnessed by senior officials from relevant Nigerian government agencies, financial institutions, and representatives of the organised private sector.
The delegation also included stakeholders from trade, export, and agricultural development bodies from both countries, who expressed commitment to the successful execution of the agreement.
Providing background, NCAN noted that Nigeria is one of Africa’s leading cashew producers, contributing over 200,000 metric tonnes annually and exporting mainly to Vietnam and India.
The association added that with increased processing capacity, Nigeria’s cashew export earnings could exceed $500 million annually, creating thousands of jobs in rural communities.
