Tinubu Vows to End Nigeria’s Low Share in $6.5bn Global Shea Market
President Bola Ahmed Tinubu has announced a six-month suspension of raw shea exports to promote local value addition, create jobs, and strengthen Nigeria’s position in the global shea industry.
In a post on X on Wednesday, Tinubu described shea as “Nigeria’s green wealth,” noting that while the country accounts for nearly 40% of global production, it captures less than 1% of the $6.5 billion global market.
“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,” the President declared.
He explained that the suspension, recommended by the Presidential Food Systems Coordinating Unit, aims to secure raw supply for domestic processors and drive economic transformation along the shea value chain.
“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,” Tinubu said.
The President emphasised that the policy is a victory for farmers, women, and the Nigerian economy.
“This is a win for our farmers, for our women, and for Nigeria,” he added.
Vice President Kashim Shettima has been tasked with working closely with industry stakeholders to expand domestic processing capacity and ensure the benefits of the policy are fully realised.
“VP Kashim Shettima will work with stakeholders to rapidly expand processing capacity and ensure that this reform translates into lasting prosperity,” Tinubu stated.
The President further highlighted new opportunities for Nigerian shea products in emerging markets, including Brazil, as part of the government’s broader economic agenda.
“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 affirmed.
The suspension is expected to stimulate investment in processing facilities, boost foreign exchange earnings from finished products, and enhance livelihoods in rural communities where the shea sector employs millions, particularly women.
