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Gbeminiyi Ogunleye
5 days ago
Overview
Tinubu bans export of raw shea nut, targets $300m revenue
President Bola Ahmed Tinubu has approved a six-month ban on the export of raw shea nuts to curb informal trade, protect local processors, and reposition Nigeria’s shea industry for greater value addition.
Vice President Kashim Shettima, who announced the directive at a multi-stakeholder meeting in Abuja, said the temporary measure, subject to review, aims to boost the shea value chain and generate up to $300 million annually in the short term.
“This is not an anti-trade policy but a pro-value addition policy. The goal is to supply our factories with raw materials, run them at full capacity, and create jobs for our people. Nigeria produces nearly 40% of global shea, yet accounts for only 1% of the $6.5 billion market. That is unacceptable,” he said.
