Tinubu Extends Raw Shea Nut Export Ban for 1 Year

President Bola Tinubu has approved a one-year extension of the ban on exporting raw shea nuts, effective February 26, 2026, to February 25, 2027. The policy reinforces industrialization and local value addition in Nigeria's agricultural sector, aiming to retain greater economic value by promoting processed shea butter exports instead of raw nuts. Processed shea butter fetches 10-20 times the price of raw nuts in international markets. To implement, the government will coordinate a unified framework with ministries and the Nigerian Commodity Exchange (NCX), withdraw all raw nut export waivers, and pilot a Livelihood Finance Mechanism for production capacity. This supports the Renewed Hope Agenda's goals of inclusive growth and positioning Nigeria as a competitive player in global agricultural value chains.

SOURCE: https://dailypost.ng/2026/02/26/tinubu-extends-ban-on-export-of-raw-shea-nut/