President Bola Tinubu has ordered an immediate and temporary ban on the export of raw shea nuts.

Mr. Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, Office of the Vice President, made this known in a statement on Tuesday in Abuja.

Vice President Shettima emphasized that the policy is not anti-trade but a “pro-value addition policy” designed to secure raw materials for local factories currently operating at less than 50% capacity. He highlighted the unacceptable disparity where Nigeria, as the world’s largest producer of shea nuts, accounts for less than 1% of the global market’s value. The government projects that the ban will generate around $300 million annually in the short term by transitioning Nigeria from an exporter of raw materials to a supplier of high-value derivatives like shea butter and oil.

The News Agency of Nigeria reports Vice-President Kashim Shettima is, at the moment, presiding over an implementation meeting with critical stakeholders on the Presidential directive