US Edition
Nigeria bans exports of raw shea nuts used for cosmetic products to help grow local economy
Nigeria aims to increase shea export earnings from $65 million to $300 million annually by banning raw exports to enhance local processing and create rural jobs, officials said.
- President Bola Ahmed Tinubu approved a six-month temporary ban on the export of raw shea nuts to boost Nigeria's shea value chain and generate around $300 million annually in the short term.
- The ban is aimed at transforming Nigeria from an exporter of raw shea nuts to a global supplier of refined shea butter, oil, and other derivatives, thereby boosting rural income and creating jobs.
- Nigeria produces nearly 40% of global shea products but accounts for only 1% of the $6.5 billion market share, and the shea sector could generate more than $300 million annually in the short term and position Nigeria to capture a significant share of the projected $9 billion global market by 2030.
56 Articles
56 Articles
Nigeria imposes six month ban on raw shea nuts
In a move to capture more value from its vast natural resources, Nigeria has imposed a temporary, six-month ban on the export of raw shea nuts. The ban, announced by Vice President Kashim Shettima, is a strategic effort to transform the country from a raw material exporter into a global hub for refined shea butter […] The post Nigeria imposes six month ban on raw shea nuts appeared first on The Black Wall Street Times.
Nigeria bans shea nuts exports as it seeks to grow own processing industry
Nigeria banned the export of shea nuts — a key ingredient in skincare products — to boost local refining and grow the country’s shea industry. Nigeria provides nearly 40% of the world’s supply of the crop, but accounts for only 1% of the $6.5 billion global market, according to Vice President Kashim Shettima. He described the situation as “unacceptable.” The immediate six-month ban aims to help the country shift from being an exporter of raw mat…
Associated Press News
Nigeria bans exports of raw shea nuts used for cosmetic products to help grow local economy
The Nigerian government has announced a six-month ban on the export of raw shea nuts, an essential raw material for making cosmetic products.
Nigeria bans raw shea nut exports to boost local industry
Vice President Kashim Shettima, announcing the ban in Abuja, called the situation “unacceptable.” He said the goal is to transform Nigeria from a supplier of raw nuts into a global hub for refined shea products used in cosmetics, food, and pharmaceuticals.
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