The Federal Government has placed an immediate temporary ban on the export of raw shea nuts, a move aimed at strengthening Nigeria’s shea value chain and boosting revenue.
Vice President Kashim Shettima announced the directive on Tuesday at a stakeholders’ meeting in the Presidential Villa, Abuja, explaining that the decision was in line with President Bola Ahmed Tinubu’s economic diversification agenda.
Shettima noted that while Nigeria produces nearly 40 percent of the world’s shea output, the country accounts for only 1 percent of the $6.5 billion global market share, describing the situation as unacceptable.
“This is not an anti-trade policy but a pro-value addition policy designed to secure raw materials for our processing factories, boost rural incomes, and create jobs,” Shettima said.
He projected that the new policy would generate about $300 million annually in the short term, with earnings expected to rise tenfold by 2027. He added that Nigeria will be repositioned as a global supplier of refined shea butter, oil, and other derivatives, rather than merely an exporter of raw nuts.
The Vice President also disclosed that President Tinubu, currently on a visit to Brazil, has reached an agreement with the South American country to prioritize access for Nigerian shea butter and oil into its market, with implementation expected within three months.
“This is the beginning of a new industry that will yield fruit for decades—for our women, our economy, and Nigeria’s place in global trade,” Shettima said.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
