LunagisthubNigeria’s Six-Month Ban on Raw Shea Nut Exports: A Strategic Move
President Bola Tinubu has approved a temporary six-month ban on the export of raw shea nuts, effective immediately. This move aims to boost local processing, protect and grow Nigeria’s shea industry, and increase the country’s earnings from the global shea trade.
Nigeria, despite being the world’s largest producer of shea nuts, contributing nearly 40% of global supply, captures less than 1% of the $6.5 billion global market. The ban seeks to address this disparity by .
Nigeria loses an estimated 90,000 metric tonnes of raw shea annually to informal cross-border trade, depriving the country of potential revenue.
By restricting raw exports, the government hopes to incentivize local processing, creating jobs and generating higher revenue.
Since 90% of shea pickers and processors are women, this policy is expected to directly benefit them, promoting gender empowerment and sustainable livelihoods.
Nigeria’s annual earnings from shea exports could rise from $65 million to $300 million.
The shea sector is expected to generate more employment opportunities, contributing to economic growth.
– *Enhance Global Market Share*: Nigeria aims to capture a significant share of the projected $9 billion global market by 2030.
The Nigerian government has also agreed with Brazil to prioritize access for Nigerian shea butter and oil into the Brazilian market within the next three months. This partnership is expected to further boost Nigeria’s shea industry .
What do you think about this policy? Will it achieve its intended goals?
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