Nigeria's Shea Nut Export Ban: A Push for Global Shea Butter Leadership
Nigeria has banned the export of raw shea nuts for six months to boost its refined shea butter industry and increase job opportunities. This move aligns with other West African nations, aiming to secure raw materials for local processing and enhance the country's market share in the global shea industry.
- Country:
- Nigeria
Nigeria's government has implemented a six-month ban on the export of raw shea nuts to bolster the country's refined shea butter industry. Vice President Kashim Shettima announced the measure, emphasizing the goal of transforming Nigeria into a major player in the global skincare market.
The ban follows similar actions by other West African countries and is designed to secure essential raw materials for domestic processing, driving economic growth and job creation in rural areas. Nigeria, which controls 40% of the world's shea nut supply, currently holds only 1% of the USD 6.5-billion global shea market.
This decision challenges Nigeria's typical free-market trade stance under President Bola Tinubu, seeking instead to add value locally and boost industry income. Whether this policy will effectively strengthen Nigeria's position relies on substantial investments in domestic industries, despite opposing views on its potential impact.
(With inputs from agencies.)
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