Nigeria is taking a major step toward becoming a global leader in the shea industry following President Bola Tinubu’s decision to temporarily suspend the export of raw shea.
The announcement was made on Tuesday by the Minister of Information and National Orientation, Mohammed Idris, at the 20th Northern Zonal Accountants’ Conference organized by the Institute of Chartered Accountants of Nigeria (ICAN) in Minna. He was represented by the Director-General of the Voice of Nigeria, Mallam Jibrin Baba Ndace.
“President Bola Tinubu’s recent temporary suspension of raw shea exports is not a mere policy experiment but a bold and forward-looking measure aimed at unlocking the full potential of our rural economy,” the Minister stated.
In a statement signed by his media aide, Rabiu Ibrahim, Idris described the suspension as both “bold and strategic.”
According to the Minister, this move is designed to ensure that more of Nigeria’s shea is processed locally, allowing the country to climb the value chain. He emphasized that Nigeria, which contributes over 50% of the world’s shea production, should not remain just a supplier of raw materials.
“By insisting that more of our shea be processed locally, the president is ensuring that Nigeria… becomes a global leader in high-value shea products,” Idris added.
Experts believe the policy will stimulate job creation, rural development, and industrial growth, while reducing Nigeria’s dependence on raw material exports.
