Vietnam has expressed its readiness to deepen bilateral ties with Nigeria in trade, agriculture, security, and education, describing the two nations as natural partners with untapped economic potential.
Speaking in Abuja during events marking the 80th anniversary of Vietnam’s August Revolution and the founding of its Ministry of Foreign Affairs, the Vietnamese Ambassador to Nigeria, Bui Hung, said both countries must move beyond rhetoric and strengthen frameworks that encourage sustainable cooperation.
Ambassador Hung revealed that trade between Nigeria and Vietnam reached $1 billion in 2024, a record figure compared to an average of $600 million in previous years.
He noted that this milestone was largely driven by Vietnam’s increased purchase of Nigerian crude oil.
However, the envoy stressed that oil and gas should not dominate the partnership, highlighting agriculture as a more stable and sustainable driver of growth.
“Last year was the first time our trade volume hit $1bn, largely because we bought more crude oil from Nigeria.
But agriculture offers long-term opportunities. Vietnam is ready to collaborate in rice, cashew, and food production, where we have strong expertise,” Hung stated.
Nigeria currently imports rice heavily despite its vast arable land, while Vietnam ranks among the world’s top rice exporters.
Yet, Vietnamese rice has struggled to penetrate Nigeria’s market due to high tariffs of nearly 70% and Nigerians’ preference for basmati rice over Vietnam’s jasmine and sticky varieties.
To address this, Ambassador Hung suggested technology transfer and joint farming projects.
“We can bring our seeds, technology, and farmers to work with Nigerian farmers.
In fact, one Vietnamese farmer is already cultivating rice successfully in Benue State.
With the right framework, such projects can expand nationwide,” he said.
Hung disclosed that a Vietnam–Nigeria Free Trade Agreement (FTA) proposal has been pending for over a year.
He explained that such an agreement could drastically lower tariffs, ease market entry, and boost exports.
“Vietnam has successfully signed FTAs with Japan, Korea, and several ASEAN countries. Nigeria stands to gain significantly if we finalize one too,” the envoy emphasized.
Beyond trade, the ambassador noted ongoing military exchange programmes between the two countries, with Nigerian officers receiving training in Vietnam.
He expressed Vietnam’s willingness to expand defence cooperation, including technology transfer and intelligence sharing.
In education, Vietnam is hosting Nigerian students pursuing degrees in maritime studies, agribusiness, and ICT.
Hung also encouraged greater student exchange, particularly in the fields of artificial intelligence and vocational training, which he said are critical for the future workforce.
Ambassador Hung acknowledged Nigeria’s challenges—such as insecurity and infrastructure gaps—but maintained that its fertile land, abundant water resources, and youthful labour force make it a strategic partner for Vietnam.
“Nigeria has the land and people, while Vietnam has the expertise and experience.
If we combine these strengths, we can create a partnership that is not only mutually beneficial but also transformative for Africa and Southeast Asia,” he concluded.
Experts believe stronger Nigeria–Vietnam relations could diversify Nigeria’s economy, reduce food import bills, and provide new export markets for non-oil products.
For Vietnam, Nigeria offers access to West Africa’s over 400 million consumer market, making the partnership geopolitically significant.
As both countries explore new avenues of cooperation, stakeholders say the next step lies in finalizing trade agreements, reducing tariff barriers, and implementing joint agricultural ventures that can create jobs and ensure food security.