The Executive Secretary of the Nigerian Export Promotion Council, Nonye Ayeni, says the opportunities in shea product can transform Nigeria’s economy in the area of job creation, value addition and women empowerment.
Ayeni said this during the ongoing 16th international shea conference in Nigeria organized by the Global Shea Alliance, GSA, and the National Shea Products Association of Nigeria, NASPAN in Abuja Nigeria’s capital.
She said Burkina Faso, Mali, Ghana, Nigeria, and Cote D’Ivoire are the largest producers of shea in the world and represent 60% of global production.
Ayeni stated that 80% of the people involved in shea trade are women.
“This speaks loudly to women empowerment and inclusiveness as well as job creation which aligns with his excellency’s Renewed Hope Agenda.”
“A cursory look at the global value of shea production and export disclosed that in the year 2023, the production and value of Shea along the value chain was $2.17 billion while it is expected to grow at a Compound Annual Growth Rate, CAGR, of 7.1% by 2030, representing the sum of $5.8 billion.” She said.
“For the cosmetics industry, it stands at 380.2 billion dollars and is expected to reach 453.0 billion dollars in 2026. Presently, more countries like India, Japan, and South Korea are approving the use of Sheabutter as cocoa butter equivalent.”
Veritable Platform
She added that the conference offers a veritable platform for all stakeholders to explore the huge opportunities in the production of shea and its derivatives.
The Niger State Commissioner of Industry Trade Investment and Private Sector, Amin Takuma, said the state will continue to drive the development of Shea value chain.
“The Niger State, commodities and Export Promotion Agency. An agency under the supervision of my ministry will continue to serve as a dedicated platform to drive the development of share value chain, facilitate market linkages and support smallholder farmers and share processes across the state and the country in general.”
“Our state is deeply committed to the development of shared value chain, recognising its immense potential to contribute to the economic growth, empower rural communities and promote environmental sustainability.” He added.
Shakirat Sadiq
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