
Nigeria has halted the export of raw shea nuts, joining several West African neighbours that have moved to keep more processing at home. The Ministry of Industry, Trade and Investment said the restriction takes immediate effect, aiming to create local jobs and capture more value from a crop widely used in cosmetics, food and pharmaceuticals. Spot prices for shea nuts in Nigeria fell sharply on Friday after the announcement, traders said, as exporters offloaded inventories they can no longer ship. Market analysts warned that the sudden drop could squeeze farmers’ incomes until domestic processors absorb the surplus. The Alliance for Economic Research and Ethics, a private-sector trade group, welcomed the ambition to build a home-grown shea value chain—estimated by the group at US$6.6 billion—but urged the government to spell out a clear transition plan. Chair Dele Kelvin Oye called for a phased six-month implementation, government purchases of unsold stocks and coordinated support for financing and training to prevent contract breaches and job losses.
The price of shea nuts, which are used in cosmetics and confectionery, plunge in Nigeria after the government joins other West African countries in banning exports https://t.co/kPQDxg4AxG
Nigeria Announces Ban on Shea Nut Exports, Causing Prices to Drop Sharpely 🚫 🇳🇬
Shea Nut Prices Plunge After Nigeria Announces Ban on Exports