President Bola Tinubu has directed, with immediate effect, a six-month ban on the export of raw shea nut from Nigeria to other parts of the world.
This is to curb informal trade, boost processor utilisation, capture higher export value and stabilise the sector.
The ban is specifically aimed at ‘boosting Nigeria’s shea value chain to generate around $300 million annually in the short term.’
Minister of Agriculture and Food Security, Abubakar Kyari, made this known at the presidential villa, Abuja, on Tuesday.
Details later..