Nigeria Implements Ban on Raw Shea Nut Exports to Boost Domestic Industry
Vice President Kashim Shettima has announced that Nigeria’s shea industry is poised to generate approximately $300 million annually in the near future, driven by new policies aimed at enhancing local processing and value addition.
Strategic Move to Enhance Shea Value Chain
In a decisive step to strengthen the country’s agricultural sector, Nigeria has prohibited the export of unprocessed shea nuts. This policy is designed to encourage local manufacturers to process shea nuts domestically, thereby increasing the economic benefits retained within the country.
Economic Impact and Growth Potential
By focusing on value addition within Nigeria, the government expects to create thousands of jobs and stimulate growth in related industries such as cosmetics and food production. The global shea butter market, valued at over $1.5 billion in 2023, continues to expand, and Nigeria aims to capture a larger share by moving up the value chain.
Supporting Local Entrepreneurs and Export Expansion
With the export ban on raw nuts, local businesses are incentivized to invest in processing facilities, which can produce refined shea butter and derivatives for both domestic use and international markets. This shift aligns with Nigeria’s broader economic diversification goals and efforts to reduce reliance on raw commodity exports.
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