President Bola Ahmed Tinubu has approved a six-month temporary ban on the export of raw shea nuts, aiming to curb informal trade, promote local processing, and strengthen Nigeria’s shea industry.
The ban, which takes effect immediately, will be reviewed after six months. It is expected to boost the shea value chain, generating an estimated $300 million annually in the short term.
Vice President Kashim Shettima, who announced the directive during a multi-stakeholder meeting at the Presidential Villa, urged the Federal Ministry of Finance and other relevant agencies to ensure swift enforcement. He stressed that the policy is not intended to restrict trade but to encourage value addition by securing raw materials for local processing factories, increasing production, creating jobs, and boosting rural incomes.
Stone Reporters News gathered that this initiative forms part of the government’s broader strategy to strengthen agro-processing industries, reduce export dependency on raw materials, and enhance Nigeria’s competitiveness in global markets.
📩 For more details on this and other stories, visit stonereportersnews.com
🌍 Contact us: info@stonereportersnews.com
📘 Facebook: Stone Reporters | 🐦 X (Twitter): @StoneReportNews
Add comment
Comments