President Bola Ahmed Tinubu has described shea as Nigeria’s “green wealth,” announcing a six-month suspension of raw shea exports to boost local processing, create jobs, and secure the livelihoods of women who dominate the value chain.
Tinubu, who made the disclosure yesterday on his verified Facebook page, said Nigeria produces nearly 40 per cent of the world’s shea supply but captures less than one per cent of the global market, valued at \$6.5 billion.
“That imbalance ends now,” the President declared, stressing that the move would unlock the country’s untapped potential in the shea industry.
He explained that the decision followed recommendations from the Presidential Food Systems Coordinating Unit, adding that the suspension would particularly benefit women engaged in the sector.
“This is a win for our farmers, for our women, and for Nigeria,” he said.
Tinubu further revealed that Vice President Kashim Shettima would collaborate with stakeholders to expand processing capacity and ensure the reform delivers 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,” he added.
