President Bola Tinubu has issued an immediate directive imposing a temporary ban on the export of raw shea nuts (Vitellaria paradoxa).
The order, announced on Tuesday, mandates a six-month prohibition on the informal export of unprocessed shea nuts, a commodity for which Nigeria is a major global producer.
Abubakar Kyari, the Minister of Agriculture and Food Security, outlined the rationale behind this strategic decision. He explained that the ban is designed to address several critical issues within the national shea sector.
Primarily, it aims to curb the prevalent informal trade of raw materials, which undermines the formal economy and deprives the nation of potential revenue.
Furthermore, the policy is intended to boost the utilisation rates of domestic processing facilities, which have often been operating below capacity due to a shortage of raw materials caused by unchecked exports.
The overarching goal is to capture a higher export value by encouraging the export of processed shea butter and other value-added products, rather than the raw nuts themselves.
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cc: Daily Trust NG
