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In what industry watchers describe as a landmark move to redefine global cashew trade, Nigeria and Vietnam have signed a far-reaching Memorandum of Understanding (MoU) to deepen cooperation in cashew production, processing, and technology exchange.
The agreement, struck between the National Cashew Association of Nigeria (NCAN) and the Vietnam Cashew Association (VINACAS), was formalized during the 14th VINACAS Golden Cashew Rendezvous 2025, held in Hanoi from October 26 to 28, marking VINACAS’ 35th anniversary.
The three-day event drew major international players in the cashew value chain — but Nigeria stole the spotlight, particularly for one reason: Kogi State’s cashew was crowned the best and most nutritious in the world.
According to a joint communiqué, the new pact seeks to boost bilateral trade, modernize processing, encourage joint investments, and promote sustainable farming practices across both nations.
President of VINACAS, Mr. Pham Van Cong, said Vietnam home to over 500 cashew firms would share industrial expertise and advanced processing technologies with Nigeria to strengthen local value addition and improve quality standards.“Vietnam and Nigeria are natural partners in cashew. Together, we can shape the global market,” Pham said. On behalf of Nigeria, Dr. Ojo Joseph Ajanaku, President of NCAN, described the agreement as a turning point for Nigeria’s agricultural economy and non-oil export ambitions. “In 2025 alone, Nigeria exported cashew worth 420 million dollars to Vietnam,” Ajanaku noted. “This partnership opens a new frontier one that links
Technology, trade, and innovation to transform our cashew industry.”Dr. Ajanaku revealed that Kogi cashew drew global applause at the Hanoi conference, earning recognition for its unique flavor, superior nutritional value, and consistent quality. “Kogi cashew is the pride of Africa the finest, most nutritious cashew in the world,” he said. “The world now agrees with what we’ve always known at home.”
He added that the new partnership would enable Nigeria to harness advanced Vietnamese technology to process Kogi cashew into a variety of high-value products, including cashew juices, beverages, and by-products.
“We are taking cashew beyond the nut,” he explained. “Through this MoU, we’ll begin processing cashew juice and other derivatives locally. The machinery and expertise arriving from Vietnam will help us boost capacity, create jobs, and add real value here in Nigeria.” Both associations also agreed to establish a joint implementation committee to monitor the MoU and ensure measurable progress. The Nigerian delegation to Hanoi included officials from trade, agriculture, and export agencies, alongside private sector representatives who pledged commitment to driving the deal’s success. NCAN noted that Nigeria currently produces over 500,000 metric tonnes of cashew annually, largely exported raw to Asia.
However, with improved local processing, cashew export earnings could exceed $500 million a year, powering thousands of rural livelihoods. “Cashew is the new oil,” Ajanaku declared. “And Kogi is its capital.” Analysts say the agreement positions Nigeria as a rising force in the global cashew market and gives Kogi State a clear advantage as the world takes notice of its premium-grade produce. From the red soils of Kogi to the industrial plants of Hanoi, the partnership underscores one message: Nigeria’s cashew especially Kogi’s isn’t just good. It’s world-class.
