Nigeria and Vietnam have officially begun discussions aimed at strengthening trade and investment ties within the cashew industry, with particular emphasis on enhancing local processing and improving the value chain.
Following a private meeting in Abuja with Ms Nguyen Phuong, Head of Delegation, and officials from the Vietnamese Embassy, the National President of the National Cashew Association of Nigeria (NCAN), Dr Ojo Ajanaku, revealed the developments on Wednesday.
“We have been working towards signing some contracts, and we are hopeful they will be successful. With this Joint Trade Committee (JTC) and additional Memoranda of Understanding (MoUs), we believe we can achieve great things for the country and elevate the cashew industry in a way that benefits our stakeholders,” he said.
Dr Ajanaku highlighted that the initiative would significantly enhance Nigeria’s bilateral relationship with Vietnam, pointing out that foreign partnerships bring with them a deeper level of engagement and opportunities for knowledge exchange.
“There is no such thing as technology transfer unless it is bought or stolen. But this time, they are coming to us willingly, which means we will benefit from direct technology transfer,” he explained.
He further noted that from now on, most cashew processing would occur within Nigeria, removing the longstanding practice of exporting raw nuts for overseas processing.
“I can say our farmers’ prayers have been answered. They will now be in high demand and valued for the quality of their produce. No longer will they be forced to give away their cashew at low prices, it will now command the worth it truly deserves,” he stated.
Dr Ajanaku also stressed the distinctive nature of cashew cultivation, explaining that not every country possesses the right environmental conditions for its growth.
“Nigeria is fortunate to have the right climate and weather, which enables us to grow cashew. I say congratulations to our farmers, they should continue to support this initiative and pray for its full realisation,” he added.
Vietnam remains a major global force in the cashew trade and has, over the years, been a key destination for Nigerian raw cashew exports.
