President Bola Tinubu has directed a six-month temporary ban
on the export of raw shea nuts.
Tinubu, who was represented by Vice-President Kashim
Shettima, gave the directive during a multi-stakeholder meeting on Tuesday at
the presidential villa.
Abubakar Kyari, the minister for agriculture and food
security, said the ban takes effect immediately and the measure aims to promote
local processing and add value within the country.
The minister said the measure reflects a broader strategy
seen in the West African region to strengthen the agro-industrial base and
increase export revenues by focusing on processed rather than raw products.
According to Kyari, the step aligns with similar efforts in
other African countries such as Ghana and Burkina Faso, where phased or
indefinite bans on raw shea nut exports have been implemented to boost domestic
processing capacity and create jobs in the industry.
‘SHEA EXPORT BAN TO GENERATE $300M ANNUALLY’
Stanley Nkwocha, senior special assistant to the president
on media and communications (office of the vice-president), the ban will boost
the country’s shea value chain and generate around $300 million annually in the
short term.
Nkwocha said Shettima directed the ministry of finance to
fast-track enforcement of the shea export ban.
Commenting on the ban, Shettima said the move is not an
anti-trade policy, but it is to boost rural income and jobs by enabling
industries to run at full capacity and transform Nigeria into a global supplier
of refined shea products.
He explained that the ban is about industrialisation, rural
transformation, gender empowerment, and expanding Nigeria’s global trade
footprint.
“Nigeria produces nearly 40% of the global shea product, yet
we account for only 1% of the market share of $6.5 billion,” the vice-president
said.
“This is unacceptable. We are projected to earn about $300
million annually in the short term, and by 2027, there will be a 10-fold
increase. This is our target.”
Shettima explained that the ban is a collective decision
involving the sub-nationals and the federal government with clear directions
for economic transformation in the overall interest of the nation.
“Government is not closing doors; we are opening
opportunities,” he said.
“Mr President is currently in Brazil, and both countries
have agreed to prioritize access for Nigerian shea butter and oil into the
Brazilian market. This process will be completed within the next 3 months.”
The vice-president emphasised that the shea export ban
protects livelihoods, dignity, and opportunities for millions of Nigerian
women.
By doing so, he said the policy opens better doors for
women, the economy, and Nigeria’s global trade position.
In March 2024, Ngozi Okonjo-Iweala, director-general (DG) of
the World Trade Organisation (WTO), said over 16 million women in West Africa
make a living from farming and processing shea nuts.
While Okonjo-Iweala estimated that women rake in about $237
million in direct income from shea, she added that 85 percent of all shea
exports are used as cocoa butter equivalence and 15 percent are used for
cosmetics.
She said the cosmetics shea butter market is currently worth
over $600 million.
The DG added that the shea butter market is expected to
reach about $850 million by the end of 2027.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com