National President of National Cashew Association of Nigeria (NCAN), Dr. Joseph Ajanaku, has said the Memorandum of Understanding (MoU) signed with Vietnam in the cashew sector will accelerate growth technology transfer and stronger collaboration with Vietnam.
Ajanaku said the MoU was signed at the 14th Vietnam Cashew Association Golden Cashew Rendezvous, in Hanoi City, Vietnam.
The agreement, he noted, was signed by association President, Pham Van Cong, for Vietnam, and Ajanaku representing Nigeria.
He said Vietnam imported over 300,000 metric tonnes of cashew nuts from Nigeria between January and October, an indication of the trade strength between the two.
Noting that this is the first time Nigeria is signing an MoU with the largest cashew-producing nation in the world, he said the aim is to facilitate transfer of technology and open more trading partnerships with Vietnam, and other countries.
He said both acknowledged each other’s unique points.
‘This was recognised in our interaction. They know we have our capacity and strength, and they also recognise they have their capacity and strength. We agree they have technology more than us, and they are well advanced in industrialisation.
‘They have the technology, but we have the capacity to produce more than what any other nation can produce, looking at our arable land’.
Ajanaku said: ‘So, we have this understanding, and this MoU has been signed; it is a game-changer for Nigeria’s cashew industry and a good thing for us to have cashew production and processing enhanced and increased’, he added.
He announced that Vietnamese investors will visit to see how they can begin to invest in processing in Nigeria.
Furthermore, he noted that the MoU is signed for one year, while implementation will start immediately.
He said: ‘It started from the very day that we signed it, and it will be renewed every year.
‘And we are starting with the 2026 season trade, and with the 2026 season, we are going to be exporting them to Vietnam’, Ajanaku said.
The MoU signing ceremony was attended by Vietnamese government officials, key industry stakeholders, and representatives from Nigeria’s Federal Ministry of Industry, Trade and Investment; Federal Ministry of Agriculture and Food Security; Nigeria Export-Import (NEXIM) Bank; the Kogi State Government; Agro-Trading Consort (Kogi’s agricultural technical partner); and a delegation from the National Cashew Association of Nigeria (NCAN).
