President Bola Ahmed Tinubu has described Nigeria’s six-month ban on the exportation of raw Shea as “a win for our farmers”.
President Tinubu approved the ban on the recommendation of the Presidential Food Systems Coordinating Unit with the aim to ensure supply is secure for local processors and the creation of jobs.
He said, Nigeria, despite producing almost “40%” of the world supply, sadly, makes “less than 1%” of its “$6.5bn” global market, adding, the end to that “imbalance” has come.
President Tinubu posted on X: “Nigeria’s shea is our green wealth. We produce nearly 40% of the world’s supply, yet capture less than 1% of its $6.5bn global market. That imbalance ends now.
“I have approved a six-month suspension of raw shea exports, on the recommendation of the Presidential Food Systems Coordinating Unit, to secure supply for local processors, create jobs, and protect a value chain where 95% of pickers are women.
“This is a win for our farmers, for our women, and for Nigeria.”
The President made known, the Vice President, Kashim Shettima, will work with stakeholders to ensure that processing capacity is widened quickly, and the reform beings about “lasting prosperity”.
He said, with new access into the Brazilian market following the agreements reached between Nigeria and Brazil in Brasilia, Nigeria will “no longer export poverty and import value”.
President Tinubu further posted: “VP Kashim Shettima will work with stakeholders to rapidly expand processing capacity and ensure that this reform translates into 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.”