Nigeria’s decision to halt the export of raw shea nuts for six months will strengthen local processors and cut production costs, the head of the Nigerian Export-Import Bank (NEXIM) has said.
Managing Director Abba Bello told youth members of the ruling All Progressives Congress (APC) in Abuja on Tuesday that the measure would help Nigeria capture more value from its position as the world’s largest shea supplier, accounting for between 40 and 60 per cent of global output.
“When we took office in 2018, not a single industrial plant was processing shea in Nigeria. Since then, NEXIM has financed four, now operating in Ogun, Kano and Niger States,” Bello said.
He noted that one recently opened facility in Niger State had faced difficulties sourcing raw shea due to competition from established international buyers. The export ban, he said, would guarantee supply and encourage further investment in domestic capacity. Bello urged the government to consider extending the suspension to a full year.
He further called for a national policy discouraging the export of raw agricultural goods across value chains, stressing that local processing was essential for job creation and wealth retention. “Exporting unprocessed commodities leaves value and employment abroad. We must reverse this trend,” he said.
Bello also encouraged young Nigerians to seize opportunities in the country’s non-oil export sectors, including agriculture, solid minerals, creative industries and services. “We are operating below potential across the board. With drive and innovation, youth can transform exports into engines of growth,” he added.
