Nigeria’s government is reviewing its six-month ban on raw shea nut exports amid concerns about its impact on producers, exporters, and foreign exchange earnings. Introduced in August 2025 to promote local processing and boost value addition, the policy was designed to position Nigeria as a global supplier of refined shea products. The rationale is compelling: despite producing nearly 40% of the world’s shea nuts, Nigeria captures only 1% of the $6.5 billion global market, with officials projecting the industry could generate $300 million annually through increased value addition. However, stakeholders have expressed mixed reactions, with some warning against penalizing exporters before establishing adequate local refining capacity. The government is expected to decide soon whether to extend or revise the policy, with Trade Minister Jumoke Oduwole pledging to present balanced recommendations to President Bola Tinubu.
Nairametrics
