President Bola Ahmed Tinubu has approved a 6-month temporary ban on the export of raw shea nut to curb informal trade, boost local processing, protect and grow Nigeria’s shea industry.
The ban, which is with immediate effect, is subject to review on expiration and specifically aimed at boosting Nigeria’s shea value chain to generate around $300 million annually in the short term.
Vice President Kashim Shettima who announced the president’s directive on Tuesday during a multi-stakeholder meeting at the Presidential Villa, called on the Federal Ministry of Finance and other relevant government agencies to fast-track enforcement.