The Nigerian Export Promotion Council (NEPC) has revealed that Nigeria’s exports of Shea products surged to over 17,000 metric tons valued at N20 billion ($14.5 million) in 2023. This announcement was made by Nonye Ayeni, the Executive Director/Chief Executive of the NEPC, during the launch of the Shea Nigeria Brand Launch held in Abuja.
Ayeni highlighted Nigeria’s significant role as the world’s largest producer of Shea nuts, accounting for 53% of total global output, ahead of countries like Burkina Faso, Ivory Coast, and Ghana. Shea, a crop highly sought after by the food and cosmetics industries locally and internationally, has become a vital export commodity for Nigeria.
“In 2023, Nigeria exported 17,302.55 tonnes of Shea valued at $14,591,419.56,” Ayeni stated. She emphasized that this marked a substantial increase from the 8,229.91 tonnes exported in 2022, with an approximate value of $3,102,326.94.
The partnership between the NEPC and the Centre for Promotion of Imports from Developing Countries (CBI) in implementing the four-year (2022-2025) Shea Nigeria Project is expected to further boost Nigeria’s foreign exchange earnings. Judith Arends, Managing Director of the CBI, highlighted that Shea exports from Nigeria would contribute to adding value to Shea marketing globally. Arends emphasized the importance of maximizing the market’s potential to enhance economic growth and development.
The surge in Shea exports underscores Nigeria’s potential to harness its natural resources for economic diversification and export promotion. The NEPC’s efforts in facilitating trade and promoting value-added exports align with the country’s broader economic objectives, aiming to drive sustainable growth and create employment opportunities.
Stakeholders and industry experts anticipate that the Shea Nigeria Project will not only contribute to increasing export earnings but also foster innovation and capacity building within Nigeria’s Shea industry. With the right strategies and partnerships in place, Nigeria is poised to solidify its position as a key player in the global Shea market, further enhancing its economic competitiveness on the international stage.
