President Bola Tinubu has officially approved a one-year extension of the ban on the export of raw shea nuts, which will now be in effect until February 25, 2027. This decision was communicated through a statement from presidential spokesperson Bayo Onanuga, highlighting the government's ongoing commitment to fostering industrial development within the country. By limiting the export of raw materials, the administration aims to encourage local processing and increase the value added to shea products before they reach international markets.

The shea nut, a key agricultural product in Nigeria, particularly prominent in the Savanna regions, is crucial for producing shea butter. This butter is highly valued for its moisturizing and anti-inflammatory properties and is widely used in cosmetics and cooking oil. The ban is intended not only to boost the domestic processing industry but also to enhance the livelihoods of communities engaged in shea production. By focusing on local processing capabilities, the Nigerian government seeks to promote economic growth and create jobs in rural areas reliant on shea farming.

In aligning the ban with the objectives of the Renewed Hope Agenda, the administration underscores its dedication to transforming Nigeria's economy by fostering sustainable development. This strategic decision is seen as part of a broader effort to enhance the quality of Nigerian exports and ensure that local producers benefit more significantly from their resources, ultimately leading to improved economic conditions in shea-producing communities across the nation.