President Bola Ahmed Tinubu has approved a one-year extension of the ban on the export of raw shea nuts, effective from February 26, 2026, to February 25, 2027.
The decision, announced by presidential spokesperson Bayo Onanuga, builds on an initial six-month restriction imposed in August 2025. It reinforces the administration's focus on industrial development, domestic value addition, and the Renewed Hope Agenda.
The policy aims to deepen local processing capacity, boost livelihoods in shea-producing communities, and shift Nigeria toward exporting higher-value products like shea butter instead of raw nuts.
Processed shea butter can fetch 10 to 20 times the price of unprocessed nuts, supporting job creation, local manufacturing, and stronger participation in global agricultural value chains.
To implement the extension effectively, President Tinubu has directed the Ministers of Industry, Trade and Investment, along with the Presidential Food Security Coordination Unit (PFSCU), to develop a unified, evidence-based national framework for the shea nut value chain.
He also approved the adoption of an export framework by the Nigerian Commodity Exchange (NCX), the withdrawal of all waivers for direct raw exports, and mandated that any excess raw shea nuts be exported solely through the NCX guidelines.
The move is seen as a strategic step to curb informal trade, protect local processors, and maximize economic returns from Nigeria's abundant shea resources.
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