Just In: Tinubu Makes 2 Major Approvals, Details Emerge
- President Bola Ahmed Tinubu has decided to extend the ban on raw shea nut exports until February 2027
- The new framework aims to enhance local processing and promote Nigerian exports of value-added products
- The government encourages processing shea nuts locally 'to increase profitability for farmers and communities'
Legit.ng journalist Ridwan Adeola Yusuf has more than nine years of experience reporting on public affairs and governance in Nigeria and Africa.
FCT, Abuja - President Bola Tinubu has approved a one-year extension of the ban on exporting raw shea nuts, effective from February 26, 2026, to February 25, 2027.
The announcement was made on Wednesday night, February 25, by his spokesperson, Bayo Onanuga, and obtained by Legit.ng.
Source: Facebook
Tinubu extends raw shea nut ban
The federal government said it is committed to policies that promote inclusive growth, local manufacturing, and position Nigeria as a competitive participant in global agricultural value chains.
Read also
Why Naira has not reached N1,000 per dollar under Tinubu's govt recently, Shettima explains
The presidency's statement reads:
"The decision underscores the administration’s commitment to advancing industrial development, strengthening domestic value addition, and supporting the objectives of the Renewed Hope Agenda.
"The ban aims to deepen processing capacity within Nigeria, enhance livelihoods in shea-producing communities, and promote the growth of Nigerian exports anchored on value-added products."
Onanuga said to further these objectives, President Tinubu has authorised the two ministers of the ministry of industry, trade and investment, and the Presidential Food Security Coordination Unit (PFSCU), to coordinate the implementation of a unified, evidence-based national framework that aligns industrialisation, trade, and investment priorities across the shea nut value chain.
The presidential spokesman disclosed that the All Progressives Congress (APC-led) federal government encourages processing shea nuts into butter locally, as "butter fetches between 10 and 20 times the price of the raw nuts."
Tinubu approves new shea export framework
Furthermore, the nation's leader approved the adoption of an export framework established by the Nigerian Commodity Exchange (NCX) and the withdrawal of all waivers allowing the direct export of raw shea nuts.
Tinubu directed that any excess supply of raw shea nuts should be exported exclusively through the NCX framework, "in accordance with the approved guidelines."
Source: Facebook
Additionally, he directed the ministry of finance to provide access to a dedicated NESS Support Window to enable the ministry of industry, trade and investment to pilot a Livelihood Finance Mechanism to strengthen production and processing capacity.
Legit.ng reports that shea nuts, the oil-rich fruits from the shea tree common in the Savanna belt of Nigeria, are the raw material for Shea butter, renowned for its moisturising, anti-inflammatory, and antioxidant properties. The extracted butter is a principal ingredient in cosmetics for skin and hair, as well as in edible cooking oil.
Read more on President Bola Tinubu:
- Tinubu told to declare state of emergency in key northern state
- 'Buhari didn't want Tinubu to become president', Buba Galadima speaks
- Kwankwaso’s ally Galadima narrates how daughter secured top job through Tinubu
Tinubu meets top US official
Earlier, Legit.ng reported that President Tinubu held a meeting with the United States (US) State Department's senior advisor, Massad Boulos, in Paris, France.
The US Mission Nigeria shared the update with accompanying pictures of Messrs. Tinubu and Boulos.
During the meeting, President Tinubu and the US official discussed regional security, including working together with partners to build a durable peace in eastern DR Congo.
Source: Legit.ng
