News Brief: Tinubu Orders Immediate Ban On Raw Shea Nut Export
President Bola Tinubu has approved a six-month ban on the export of raw shea nuts to boost local processing and grow Nigeria’s shea industry.
Vice President Kashim Shettima, who announced the directive, said the move is aimed at securing raw materials for processors, creating jobs, and generating about $300 million annually in the short term.
Nigeria, which produces nearly 40% of the world’s shea, currently accounts for less than 1% of the $6.5 billion global market. Officials say the ban will help curb informal exports, expand value addition, empower rural women, and position the country as a major player in the global shea trade.
#SheaIndustry #NigeriaEconomy #Tinubu
President Bola Tinubu has approved a six-month ban on the export of raw shea nuts to boost local processing and grow Nigeria’s shea industry.
Vice President Kashim Shettima, who announced the directive, said the move is aimed at securing raw materials for processors, creating jobs, and generating about $300 million annually in the short term.
Nigeria, which produces nearly 40% of the world’s shea, currently accounts for less than 1% of the $6.5 billion global market. Officials say the ban will help curb informal exports, expand value addition, empower rural women, and position the country as a major player in the global shea trade.
#SheaIndustry #NigeriaEconomy #Tinubu
News Brief: Tinubu Orders Immediate Ban On Raw Shea Nut Export
President Bola Tinubu has approved a six-month ban on the export of raw shea nuts to boost local processing and grow Nigeria’s shea industry.
Vice President Kashim Shettima, who announced the directive, said the move is aimed at securing raw materials for processors, creating jobs, and generating about $300 million annually in the short term.
Nigeria, which produces nearly 40% of the world’s shea, currently accounts for less than 1% of the $6.5 billion global market. Officials say the ban will help curb informal exports, expand value addition, empower rural women, and position the country as a major player in the global shea trade.
#SheaIndustry #NigeriaEconomy #Tinubu
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