President Bola Tinubu has said shea is Nigeria’s green wealth and the country produces nearly 40% of the world’s supply, yet captures less than 1% of its $6.5bn global market.
Tinubu, currently in Brazil, said on his X page on Wednesday that the imbalance has ended.
Tinubu made this known after announcing a six-month suspension on the export of raw shea nuts, a strategic move aimed at strengthening Nigeria’s domestic processing industry and capturing more value from the global market.
Tinubu, who referred to shea as “green wealth,” stated that the ban was a recommendation from the Presidential Food Systems Coordinating Unit.
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The suspension is intended to ensure a steady supply of raw materials for local processors, create jobs, and protect a value chain dominated by women, who make up 95% of the pickers.
According to the president, this policy marks a shift away from “exporting poverty and importing value.”
He stated that the government will now focus on creating value at home and competing in the international market.
Vice President Kashim Shettima will lead a collaborative effort with stakeholders to quickly expand the country’s processing capacity.
This move aligns with the broader goals of the Renewed Hope Agenda, which seeks to transform Nigeria from a raw material exporter to a hub for value-added products.
The government also plans to leverage new market opportunities, such as the recently secured access to the Brazilian market, to ensure long-term prosperity.
