President Bola Ahmed Tinubu has approved a six-month temporary ban on the export of raw shea nut as part of efforts to curb informal trade, strengthen local processing, and expand Nigeria's shea value chain. The directive, which takes immediate effect, will be subject to review at the end of the six-month period.
According to projections, the policy is expected to generate approximately $300 million annually in the short term by ensuring that raw shea nut supplies are retained and processed within the country. This will enhance the competitiveness of Nigeria's shea industry both locally and globally.
Vice President Kashim Shettima, who announced the decision during a multi-stakeholder meeting at the Presidential Villa, emphasized that the measure is designed to empower industries, not restrict trade. He described the policy as "a pro-value-addition decision" that secures raw materials for local processors while unlocking opportunities for farmers and rural communities.
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The Federal Ministry of Finance and other relevant government agencies have been tasked with immediate enforcement of the directive. Stakeholders in the shea industry welcomed the move, highlighting the potential to create jobs, stimulate innovation, and improve rural livelihoods.
For small and medium enterprises (SMEs), the policy signals a renewed commitment to building stronger domestic value chains. By prioritizing local processing, Nigeria positions its SMEs in agribusiness and manufacturing to scale production, attract investment, and contribute significantly to inclusive economic growth.
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