Nigeria has entered formal talks with Vietnam to strengthen trade and investment in the cashew sector, a move expected to significantly transform the country’s cashew value chain and encourage more local processing.
This was made known by the National President of the National Cashew Association of Nigeria (NCAN), during a meeting with a delegation from the Vietnamese Embassy in Abuja. The discussion, held behind closed doors, focused on finalising trade contracts and exploring new cooperation opportunities between both countries.
According to NCAN, the meeting is part of a broader initiative to activate the Joint Trade Committee (JTC) and sign key Memoranda of Understanding (MoUs) that would pave the way for long-term partnerships in the cashew industry. These agreements are expected to attract investment, encourage knowledge sharing, and enable technology transfer, which is often a major barrier in agro-processing.
The association leader described the partnership as a welcome breakthrough for Nigerian cashew farmers, noting that foreign interest in processing activities will improve market value for locally grown cashew and put an end to the longstanding trend of exporting raw nuts at low prices. He affirmed that cashew farmers would now be able to sell their produce at fairer rates, adding that Vietnam’s willingness to engage in direct technology transfer signals a significant shift in the industry.
The discussions also come at a time when Nigeria’s cashew industry is experiencing steady growth. With an annual average production increase of five percent, Nigeria’s output is forecast to reach 300,000 metric tonnes by 2030. The country benefits from an ideal climate for cashew production, which positions it among the top suppliers of raw cashew to global markets, including Vietnam — a major processor and exporter of finished cashew products.
Vietnam’s growing interest in deepening engagement with Nigeria marks a strategic move to diversify its cashew sourcing while supporting value addition at origin. This not only aligns with Nigeria’s goal to boost agricultural processing and exports but also presents an opportunity for job creation, technology adoption, and higher export earnings.
The NCAN president encouraged local farmers and stakeholders to support the partnership, saying that such international cooperation is key to unlocking the full potential of Nigeria’s cashew industry. He stressed the importance of strong bilateral relations in transforming agriculture into a more productive and profitable sector, adding that with the right policies and support, Nigeria could become a leader in cashew processing, not just production.
