Today, I announced President Bola Ahmed Tinubu’s approval for a six-month temporary ban on the export of raw shea nut to curb informal trade, boost local processing, and protect and grow Nigeria’s shea industry.
The ban, which takes immediate effect, is subject to review upon expiration and is specifically aimed at boosting Nigeria’s shea value chain to generate around $300 million annually in the short term.
Presiding over a multi-stakeholder meeting at the Presidential Villa, I called on the Federal Ministry of Finance and other relevant government agencies to fast-track enforcement.
This 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 for our people.
By protecting the shea industry, we are protecting livelihoods, dignity, and opportunity for millions of our women.
