President Tinubu has imposed a six-month ban on raw shea nut exports to boost local processing.
NewsOnline Nigeria reports that President Bola Tinubu has ordered an immediate six-month suspension of raw shea nut exports in a bid to strengthen Nigeria’s agricultural value chain and promote domestic processing.
The directive, announced Tuesday by the Minister of Agriculture and Food Security, Senator Abubakar Kyari, at the Presidential Villa in Abuja, is targeted at curbing informal trade that bypasses official export channels and undermines local processors.
ALSO: Tinubu Secures Petrobras’ Return to Nigeria, Signs 5 Key MoUs with Brazil (FULL LIST)
According to the government, the new policy is designed to increase processor utilization, stabilize the shea sector, and ensure Nigeria captures greater value from processed shea products instead of exporting raw materials.
“By prioritizing value addition, Nigeria can generate up to $300 million annually in the short term while significantly boosting agricultural export earnings,” Kyari stated.
The ban, which takes immediate effect, will remain in place for six months as the government works to expand domestic processing capacity and establish stronger export frameworks for shea butter and other value-added derivatives.
Nigeria is one of the world’s top producers of shea, widely used in cosmetics, food, and pharmaceuticals. Officials believe the move will not only strengthen the economy but also create new jobs and investment opportunities in the agro-processing sector.
More details shortly…
