Tinubu prohibits Shea’s exports for six months

The President of the Tinubu Ball has agreed to a six -month ban on the export of raw shea beans to curb informal trade, increase local processing, and grow industry in Nigeria.

Vice President Kashim Shettima announced the directions of the President during my multi-staffing meeting at the President’s villa, Abuja, on Tuesday.

The prohibition, which will immediately apply, will be reviewed after six months.

This is intended to increase the Shea Nigeria value chain to produce around $ 300 million per year in the short term.

Shettima explained that the ban was a collective decision involving sub-national and federal government, with a clear direction for economic transformation in the entire interests of the country.

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Therefore, he urged the Federal Ministry of Finance and other relevant government agencies to enforce the fast lane.

The vice president said the decision was not a “anti-trade policy” but a policy of adding value that was designed to secure raw materials to process the factory.

He added that the decision would allow the industry to run in full capacity to increase income and create jobs for Nigerians.

“The decision will change Nigeria from raw Shea bean exporters to Global Shea Butter, oil, and other derivative suppliers,” Shettima said.