ABUJA, Feb 27 – President Bola Tinubu has approved a one year extension of the ban on the export of raw shea nuts, according to a statement issued in Abuja by presidential spokesperson Bayo Onanuga.
The extension will take effect from February 26, 2026 to February 25, 2027. The government said the directive is part of efforts to strengthen domestic processing and increase export earnings from value added products.
Nigeria produces about 40 percent of global shea output but accounts for about 1 percent of the $6.5 billion global market. Authorities project the sector could generate around $300 million annually in the short term.
The policy follows an initial six month ban introduced in August 2025 to curb informal exports and support local processors. Officials said processed shea butter commands significantly higher prices, ranging between 10 and 20 times the value of raw nuts.
To implement the extension, the Federal Ministry of Industry, Trade and Investment and the Presidential Food Security Coordination Unit will coordinate a national framework for the shea value chain.
The government also approved an export framework developed by the Nigerian Commodity Exchange to standardise trade. All existing waivers allowing direct export of raw shea nuts have been withdrawn.
Authorities said any surplus production must be exported through the approved exchange platform to ensure transparency and traceability.
In addition, the Federal Ministry of Finance will provide access to a dedicated NESS support window to enable the rollout of a livelihood finance mechanism aimed at improving production and processing capacity in the sector.
