Nigeria and Vietnam have entered into a strategic partnership to enhance cashew production, processing, and trade, following the signing of a Memorandum of Understanding (MoU) between the National Cashew Association of Nigeria (NCAN) and the Vietnam Cashew Association (VINACAS).
The agreement was formalized during the 14th VINACAS Golden Cashew Rendezvous 2025, held from October 26 to 28 in Hanoi, Vietnam. The three-day event marked the 35th anniversary of VINACAS and brought together global stakeholders across the cashew value chain.
According to a joint communiqué issued after the signing, the partnership aims to strengthen bilateral trade, promote technology transfer, and enhance cooperation between both countries to consolidate their positions in the global cashew industry.
The MoU was signed by Mr. Pham Van Cong, President of VINACAS, and Dr. Ojo Joseph Ajanaku, President of NCAN, representing Vietnam and Nigeria respectively.
VINACAS stated that the partnership will focus on promoting trade in raw and processed cashew nuts, exchanging processing technologies, encouraging joint investments, and developing sustainable cashew farming practices in both countries.
Speaking at the ceremony, Mr. Pham reaffirmed VINACAS’ commitment to sharing Vietnam’s industrial experience and technological expertise with Nigeria.
He emphasized that with over 500 member companies, VINACAS would support Nigeria in building local capacity and improving product quality to boost competitiveness in the global market.
Representing Nigeria, Dr. Ajanaku described the agreement as a “milestone achievement” for Nigeria’s agricultural and non-oil export economy.
He disclosed that Nigeria exported $420 million worth of cashew to Vietnam in 2025, and that the new partnership would further enhance production efficiency and market access for Nigerian products.
He added that the collaboration would also encourage value addition through modern processing technologies and product diversification, including cashew-based beverages and by-products.
Notably, Kogi cashew was recognized at the Hanoi conference as the most nutritious globally — a distinction that Nigeria plans to leverage through research, innovation, and branding.
Dr. Ajanaku noted that machinery and technical expertise from Vietnam would support Nigeria in expanding its processing capacity, creating rural employment, and advancing economic diversification.
The communiqué further revealed that both associations have agreed to establish a Joint Working Committee to oversee the implementation of the MoU and report progress annually.
The signing ceremony was witnessed by senior officials from relevant Nigerian agencies, financial institutions, and representatives of the organized private sector.
The Nigerian delegation included Muhammed Tukur Usman, Director of FDA-FMAS; Mr. Babagana Musti, representative of NEXIM Bank; Jude Osilama and Evidence Iyamu, NCAN exporters.
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 Tchidi Okike Zacchaeus, a merchant farmer.
Providing background, NCAN noted that Nigeria ranks among Africa’s top cashew producers, contributing over 500,000 metric tonnes annually, with exports mainly to Vietnam and India. The association added that increasing local processing capacity could raise Nigeria’s annual cashew export earnings to over $500 million, while creating thousands of rural jobs.
Under the terms of the MoU, the two associations agreed to:
Share information on cashew-related regulations, cultivation, processing technologies, import and export standards, and quality control.
Organize periodic business-to-business (B2B) meetings and trade missions between members in both countries.
Assist members in resolving trade disputes and promoting fair business practices.
Jointly advocate for better regional and global policies that support private sector growth in the cashew industry.
The agreement will remain in effect for 12 months, renewable upon mutual consent, and will serve as a framework for long-term collaboration.
The MoU was signed in four original copies, with each party retaining two.
Signed:
Pham Van Cong, President, Vietnam Cashew Association (VINACAS)
Dr. Ojo Joseph Ajanaku, President, National Cashew Association of Nigeria (NCAN)