FG Says Shea Export Suspension Will Create Jobs, Spur Investment

FG Says Shea Export Suspension Will Create Jobs, Spur Investment The Federal Government has said that President Bola Tinubu’s recent decision to temporarily suspend the export of raw shea nuts is a bold economic reform that will unlock the vast potential of Nigeria’s shea industry, create jobs, and position the country as a global leader in value-added shea products. Minister of Information and National Orientation, Mohammed Idris, gave the assurance in Minna, Niger State, where he was Special Guest of Honour at the 20th Institute of Chartered Accountants of Nigeria (ICAN) Northern Zonal Accountants’ Conference. Idris, who hails from Niger State — Nigeria’s hub of shea production — said the move was not a mere experiment but a carefully designed policy aimed at transforming the rural economy. Represented by the Director-General of the Voice of Nigeria, Mallam Jibrin Baba Ndace, the Minister explained that Nigeria, which accounts for over half of the world’s shea production, must not remain a supplier of raw materials to foreign markets. “By insisting that more of our shea be processed locally, President Tinubu is ensuring that Nigeria becomes a global leader in high-value shea products,” he said. “This decisive step will stimulate local investment, drive technology transfer, and accelerate the development of processing capacity. It will also bring about the creation of quality jobs for our youth and women in rural communities, boost foreign exchange earnings, and deepen Nigeria’s participation in global value chains.” Idris commended the National Shea Products Association of Nigeria (NASPAN) for supporting the initiative, noting that the Federal Government is creating the enabling environment to make the policy successful. He added that the suspension of raw shea exports aligns with the President’s broader Renewed Hope Agenda, which prioritises accountability, inclusivity, and economic diversification.

Speaking on the theme of the ICAN conference, “Socio-Economic Potentials, Accountability and National Re-Orientation: Unlocking Nigeria’s Future,” the Minister said accountability is the foundation of every thriving society. He urged Nigerians to embrace positive values and hold institutions accountable as part of the drive to build a prosperous nation. “Living by the right values, putting Nigeria first, and holding institutions accountable are the pathways to unlocking our future,” Idris said. The Minister also highlighted ongoing national reforms, including fiscal discipline, infrastructure renewal, digital transformation, and youth empowerment. He pointed to landmark projects such as the Lagos–Calabar Coastal Superhighway, the Badagry–Sokoto Superhighway, and the rehabilitation of the Eastern rail corridor as evidence of equitable resource distribution under President Tinubu. He noted that about 125 kilometres of the 1,068-kilometre Sokoto–Badagry Superhighway will pass through Niger State, further boosting the state’s economic prospects. Idris stressed that the administration is strengthening financial management through tools like the Treasury Single Account and the Government Integrated Financial Management Information System (GIFMIS) to block leakages and ensure discipline in public finance. According to him, Nigeria’s rise in Transparency International’s Corruption Perception Index — from 145th in 2023 to 140th in 2024 — reflects the impact of reforms such as the removal of fuel subsidy and the unification of exchange rates. “These bold measures reflect the President’s commitment to prudent economic management, transparency, and redirecting national resources to investments that truly uplift the lives of Nigerians,” he said. Calling on accountants and other professionals to serve as partners in national renewal, Idris said their expertise could inspire a culture of accountability that strengthens democracy and drives sustainable development. “The Federal Government remains committed to transparency, good governance, and national re-orientation, and we call on professionals to join hands with us in promoting accountability across all sectors,” he added.

By PRNigeria