Shea Nut | Photo credit: Harvest Oasis Ltd
The federal government says President Bola Tinubu’s decision to suspend raw shea nut exports is a strategic move to position Nigeria as a global leader in the shea economy.
Mohammed Idris, minister of information and national orientation, spoke in Minna on Tuesday at the 20th Institute of Chartered Accountants of Nigeria (ICAN) Northern Zonal Accountants’ Conference.
On August 26, Tinubu directed a six-month temporary ban on the export of raw shea nuts.
Idris, who was represented by Jibrin Baba Ndace, director-general (DG) of the Voice of Nigeria, said the policy is “not a mere experiment but a bold, forward-looking measure” to unlock the full potential of rural economies.
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“By insisting that more of our shea be processed locally, the president is ensuring that Nigeria, which accounts for over 50 percent of the world’s shea production, does not remain a supplier of raw materials but becomes a global leader in high-value shea products,” Idris said.
The minister noted that Niger state, which is Nigeria’s hub of shea production, stands to benefit greatly from the initiative through investment, job creation, and improved foreign exchange earnings.
He commended the National Shea Products Association of Nigeria (NASPAN) for supporting the federal government’s plan, adding that the policy aligns with Tinubu’s broader economic renewal agenda.
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Idris said the shea initiative is anchored on accountability, inclusivity, and national re-orientation, while also highlighting ongoing reforms under the Renewed Hope Agenda, such as fiscal discipline, infrastructure renewal, digital transformation, and youth empowerment.
He said flagship projects like the Lagos–Calabar coastal superhighway, the Badagry–Sokoto superhighway, and the rehabilitation of the eastern rail corridor are proof of equitable resource distribution under the administration.
Idris added that fiscal reforms such as the treasury single account and the government integrated financial management information system (GIFMIS) are restoring discipline in public finance management.
He also cited Nigeria’s movement on the Transparency International Corruption Perceptions Index from 145th position in 2023 to 140th in 2024 as evidence of progress.
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“The removal of fuel subsidy and the unification of the exchange rate have delivered a decisive blow against long-standing avenues of waste and abuse of public funds,” Idris said.
The minister called on accountants and other professionals to support the government in promoting accountability and transparency as a pathway to sustainable development.
