Nigeria banned the export of shea nuts — a key ingredient in skincare products — to boost local refining and grow the country’s shea industry.
Nigeria provides nearly 40% of the world’s supply of the crop, but accounts for only 1% of the $6.5 billion global market, according to Vice President Kashim Shettima. He described the situation as “unacceptable.”
The immediate six-month ban aims to help the country shift from being an exporter of raw materials to a global supplier of lucrative shea-based products, such as beauty creams, chocolates, and ice cream.
Abuja projects earnings from the country’s shea nuts to reach $300 million annually in the short term. Nigeria is joining other West African countries — including Burkina Faso, Ghana, Mali, and Togo — that have banned or restricted exports of the crop.