President Bola Ahmed Tinubu has announced a six-month ban on the export of raw shea nuts.

Vice President Kashim Shettima revealed the decision during a meeting with stakeholders in Abuja. He explained that the ban is only temporary and will be reviewed later.

According to him, the step is aimed at building up Nigeria’s shea industry and could help the country make as much as $300 million yearly in the short term.

Shettima made it clear that the policy is not against trade but focused on creating more value within the country. He said the goal is to supply local factories with enough raw materials, enable them to run at full capacity, and provide more jobs.

He noted that Nigeria produces about 40% of the world’s shea but only accounts for 1% of the $6.5 billion global market, which he described as unacceptable.

The Vice President explained that the plan would make Nigeria a top supplier of refined shea butter, oil, and other related products. He added that the move will also encourage industrial growth, rural development, women empowerment, and bigger trade opportunities.

He further said that by 2027, Nigeria hopes to grow its shea earnings ten times. He also revealed that agreements have been made with Brazil to give Nigerian shea products faster access to global markets within three months.

The Minister of Agriculture and Food Security, Senator Abubakar Kyari, welcomed the policy, describing it as long overdue.

He said Nigeria currently produces around 350,000 metric tonnes of shea every year across 30 states, with the potential to reach 900,000 tonnes. However, he noted that local processors are using only between 35% and 50% of their capacity.