Nigeria Imposes Six-Month Ban on Raw Shea Nut Exports
President Bola Tinubu has approved a six-month temporary ban on the export of raw shea nuts to curb informal trade, boost local processing, and strengthen the country’s shea industry.
TIMES OF NIGERIA gathered that the ban takes immediate effect and will be reviewed upon expiration.
Vice President Kashim Shettima, speaking at a multi-stakeholder meeting at the Presidential Villa, called on the Federal Ministry of Finance and other relevant agencies to enforce the directive.
He emphasised that the move is “not an anti-trade policy but a pro-value-addition policy designed to secure raw materials for our processing factories, enabling industries to run at full capacity, thereby boosting rural income and creating jobs.”
The Vice President added that the policy would transform Nigeria from an exporter of raw shea nut into a global supplier of refined shea butter, oil, and derivatives, contributing to industrialisation, rural transformation, gender empowerment, and expanding the nation’s trade footprint.
Highlighting the economic potential, he noted: “Nigeria produces nearly 40% of the global shea product, yet we account for only 1% of the market share of $6.5 billion.”
TIMES OF NIGERIA reports that the initiative is expected to generate around $300 million annually in the short term while strengthening the nation’s shea value chain.
