The President of the Federal Republic of Nigeria, Pres. Bola Ahmed Tinubu GCFR today ordered a halt in the overseas sales of Nigeria’s shea in its raw form. This order is premised on the need for the country to get the most value from the abundant resource which accounts for 40% of global supply. When the production of value-added, processed Shea begins, Brasil will be one of the top countries to benefit from the program. The presidential order will be for an initial 6-month duration, TheMediaGood Newspaper can report.
In his remarks, President Tinubu highlighted: ‘Nigeria’s shea is our green wealth. We produce nearly 40% of the world’s supply, yet capture less than 1% of its $6.5bn global market. That imbalance ends now.’
‘I have approved a six-month suspension of raw shea exports, on the recommendation of the Presidential Food Systems Coordinating Unit, to secure supply for local processors, create jobs, and protect a value chain where 95% of pickers are women. This is a win for our farmers, for our women, and for Nigeria.’
He charged: ‘VP Kashim Shettima will work with stakeholders to rapidly expand processing capacity and ensure that this reform translates into lasting prosperity. With new market access opening in Brazil and beyond, we will no longer export poverty and import value. We will create value at home, compete abroad, and deliver prosperity under the Renewed Hope Agenda.’