President of Nigeria, Bola Tinubu, makes official addresses.Ton Molina/Getty Images
Abuja, Nigeria (EPICSTORIAN) — The Nigerian president Bola Ahmed Tinubu has approved a six-month ban on raw shea nut exports.
Tinubu, speaking during a meeting with his cabinet, said the ban aims to curb informal trade and boost local processing capacity.
According to Vice President Kashim Shettima, who announced the policy earlier at the Presidential Villa in Abuja, the president does not intend to ‘make harsh policy’ for the exporters of the product.
He noted that the government intends to secure raw materials for domestic processing factories.
The ban will be reviewed after six months to assess its impact.
The policy focuses on value addition, not restricting trade.
Economic Implications: Projected $300 Million Annual Revenue
The government projects the ban could generate $300 million in annual revenue.
The policy ensures factories operate at full capacity across Nigeria.
The Federal Ministry of Finance is tasked with enforcing the ban.
Industry experts believe local processing will benefit from the ban.
Government plans aim to strengthen the shea industry value chain. Guardian Nigeria
Impact on Local Communities: Empowering Women and Rural Populations
The shea industry provides livelihoods for millions of rural women.
The ban protects jobs while promoting economic empowerment.
Government officials stress safeguarding the industry preserves dignity and opportunity.
Local processors will gain a stable supply of raw nuts.
The initiative may boost rural economies and encourage investment. Punch Nigeria
Government Strategy: Promoting Value Addition in Shea Processing
The ban is part of a broader strategy to increase agricultural value addition.
Officials clarified that the policy supports industrial growth rather than restrict trade.
Securing raw materials will create jobs and raise rural incomes.
The policy aligns with economic diversification and industrialization plans.
It aims to reduce raw export dependence while strengthening local industries.
Industry Response: Mixed Reactions to Export Ban
Stakeholders in the shea industry have expressed mixed reactions.
Supporters highlight benefits in local processing and job creation.
Critics warn of short-term revenue loss and infrastructure needs.
Industry representatives stress effective enforcement is key for success.
