President Bola Ahmed Tinubu has directed an immediate temporary ban on the export of raw shea nuts, in what government sources describe as a strategic move to promote local processing and value addition.
The directive, announced on Tuesday, is aimed at encouraging domestic industries to harness the economic potential of shea products, create jobs, and boost foreign exchange earnings through finished goods rather than raw exports.
Although as at the time of this report details of the duration of the suspension were not disclosed, officials say the policy is in line with the administration’s broader economic agenda to strengthen agro-processing and promote industrial growth.
Nigeria is one of the leading producers of shea nuts in Africa, with significant demand in the global food, cosmetics, and pharmaceutical industries.
The Federal Government is expected to issue further guidelines on the implementation of the ban in the coming days.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
