President Bola Tinubu has approved a six-month ban on the export of raw sheanuts, effective immediately.
The ban aimed to boost local processing, protect and grow Nigeria’s sheanuts industry, and increase the country’s share of the global shea market.
Vice President Kashim Shettima, who announced the president’s directive during a multi-stakeholder meeting at the Presidential Villa on Tuesday, called on the Federal Ministry of Finance and other relevant government agencies to fast-track enforcement.
Speaking on the directive, Shettima said the decision was not “an anti-trade policy but a pro-value addition policy designed to secure raw materials for our processing factories and enabling industries run at full capacity, thereby boosting rural income and jobs for our people.”
He noted that the decision “will transform Nigeria from an exporter of raw shea nut to a global supplier of refined shea butter, oil and other derivatives.”
