To Support Domestic Industry, Nigeria Prohibits the Export of Raw Shea Nuts.

The nation accounts for around 40% of the yearly harvest, making it one of the largest producers in the world. But because the majority of its nuts are exported unprocessed, Nigeria only accounts for 1% of the $6.5 billion worldwide shea market.

In Abuja, Vice President Kashim Shettima declared the situation “unacceptable” while announcing the ban. According to him, the objective is to turn Nigeria from a supplier of raw nuts into a major global center for refined shea products used in food, medicine, and cosmetics.

“Shea focuses on gender empowerment, industrialization, rural transformation, and growing Nigeria’s trade footprint,” Shettima stated. The government wants the industry’s annual revenue to rise from $65 million to $300 million.

The fruit of the shea tree yields shea butter, which is used extensively in cosmetics, chocolate, ice cream, and several medications. Throughout Africa’s “shea belt,” which stretches from west to east, the trees grow naturally. Small-scale farmers, particularly women, frequently pick them.

Also Read:

Trusted Name in Finance and Investment Consulting: Sasa Pejic as the CEO of Pannon GroupNS

Steven Looije: Offering Real Estate Expertise for Smart Investments With HUIS Real Estate