President Bola Ahmed Tinubu has announced a six-month suspension of raw shea exports in a bold move to strengthen Nigeria’s agricultural value chain and secure more benefits from the country’s natural resources.
Nigeria currently produces nearly 40% of the world’s shea nuts, but captures less than 1% of the $6.5 billion global shea market. According to President Tinubu, this imbalance must end.
The suspension, recommended by the Presidential Food Systems Coordinating Unit (PFSCU), is aimed at channeling more shea supply to local processors, creating jobs, and protecting a sector where 95% of pickers are women.
“This is a win for our farmers, for our women, and for Nigeria,” President Tinubu declared.
Vice President Kashim Shettima has been directed to work closely with industry stakeholders to rapidly expand Nigeria’s shea processing capacity and ensure that the reform delivers long-term prosperity under the Renewed Hope Agenda.
The presidency also revealed that new market access is opening in Brazil and beyond, positioning Nigeria to transform from an exporter of raw produce into a competitive player in the global shea value-added market.
“We will no longer export poverty and import value. We will create value at home, compete abroad, and deliver prosperity for our people,” Tinubu said.
With this policy, Nigeria hopes to unlock the full potential of its “green wealth”—the shea industry—by empowering women, boosting exports of processed goods, and securing a stronger position in the global market.
Discover more from News Live Nigeria
Subscribe to get the latest posts sent to your email.