President Bola Ahmed Tinubu has officially extended the prohibition on the export of raw shea nuts for another year, moving to lock in domestic processing gains and curb the capital flight associated with shipping raw agricultural materials abroad. The extension, which runs from February 26, 2026, to February 25, 2027, is a strategic cornerstone of the administration’s Renewed Hope Agenda, aimed at transforming Nigeria from a raw material exporter into a high-value industrial hub.
In a statement released by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the administration emphasized that the decision underscores a commitment to advancing industrial development and strengthening domestic value addition. By restricting the outflow of the oil-rich Savanna fruit—essential for global cosmetics, hair care, and edible oils—the Federal Government intends to deepen local processing capacity and significantly boost the earnings of those in shea-producing communities.
The economic rationale behind the move is stark: processed shea butter commands a market price between 10 and 20 times higher than that of the raw nuts. To ensure the policy translates into industrial growth, the President has mandated a collaborative implementation framework involving the Ministers of Industry, Trade and Investment, alongside the Presidential Food Security Coordination Unit (PFSCU). Furthermore, all previous waivers that allowed for the direct export of raw nuts have been revoked, and any excess supply must now be channeled exclusively through a newly approved Nigerian Commodity Exchange (NCX) export framework.
Financial support is also being prioritised to bridge the gap between harvesting and high-end production. President Tinubu has directed the Federal Ministry of Finance to open a dedicated NESS Support Window to fund a Livelihood Finance Mechanism. This pilot program, managed by the Ministry of Industry, Trade and Investment, will provide the necessary capital for local processors to scale their operations and position Nigeria as a dominant, value-added competitor in the global agricultural market.
