FG’s shea export ban will position Nigeria as a global leader — Minister

The Minister of Information and National Orientation, Mohammed Idris, has described President Bola Ahmed Tinubu’s recent temporary suspension of raw shea exports as a decisive step to unlock the vast economic potential of Nigeria’s shea industry and position the country as a global leader in shea products.

Speaking as Special Guest of Honour at the 20th Institute of Chartered Accountants of Nigeria (ICAN) Northern Zonal Accountants’ Conference in Minna, Niger State, Idris – who hails from the country’s shea-producing hub – said the policy underscores the President’s determination to strengthen the rural economy through industrialisation and value addition.

Represented by the Director General of the Voice of Nigeria, Mallam Jibrin Baba Ndace, the Minister stated: “President Bola Ahmed Tinubu’s recent temporary suspension of raw shea exports is not a mere policy experiment but a bold and forward-looking measure aimed at unlocking the full potential of our rural economy. By insisting that more of our shea be processed locally, the President is ensuring that Nigeria, which accounts for over 50 per cent of the world’s shea production, does not remain a supplier of raw materials but becomes a global leader in high-value shea products.”

He added that Niger State, the heart of Nigeria’s shea belt, stands to gain enormously from the decision. “This step will stimulate local investment, drive technology transfer, and accelerate the development of processing capacity. It will also create quality jobs for our youth and women in rural communities, boost foreign exchange earnings, and strengthen Nigeria’s position in global value chains,” Idris said.

The Minister commended the National Shea Products Association of Nigeria (NASPAN) for backing the policy and stressed that the Federal Government is committed to providing the enabling environment for its success. He maintained that the shea initiative forms a crucial part of the President’s wider economic renewal plan, rooted in accountability, inclusivity, and national re-orientation.

Reflecting on the theme of the 20th ICAN Conference, “Socio-Economic Potentials, Accountability and National Re-Orientation: Unlocking Nigeria’s Future”, Idris emphasised that accountability is the bedrock of every successful society. He urged citizens to commit to “living by the right values, holding institutions accountable, and putting Nigeria first in all our actions.”

The Minister also pointed to ongoing reforms under the Renewed Hope Agenda, which include fiscal discipline, infrastructure renewal, digital transformation, and youth empowerment. He said these initiatives are laying “the moral and institutional compass needed to unlock Nigeria’s vast human and material potentials.”

Citing major infrastructure projects, he listed the Lagos–Calabar Coastal superhighway, the Badagry–Sokoto superhighway, the rehabilitation of the Eastern rail corridor, and the establishment of Regional Development Commissions as proof of equitable distribution of resources under the current administration. “It’s worth mentioning that the 1,068-kilometre Sokoto–Badagry Super Highway, which is one of the four Legacy Projects of the President, will pass through several states, including Sokoto, Kebbi, Niger, Kwara, Ogun, Oyo, and Lagos. About 125 kilometres will be constructed within Niger State,” he explained.

Idris further disclosed that the Federal Government is using instruments such as the Treasury Single Account and the Government Integrated Financial Management Information System (GIFMIS) to tighten financial controls, reduce leakages, and entrench discipline in the management of national resources.

He noted that Nigeria’s improved standing in the Transparency International Corruption Perceptions Index – rising from 145th in 2023 to 140th in 2024 – reflects the impact of these reforms. According to him, the removal of fuel subsidy and the unification of the exchange rate have struck at long-standing avenues of waste and abuse of public funds.

“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 strategic partners in national re-orientation, the Minister said their expertise and example can foster a culture of accountability that will strengthen democracy and drive sustainable development. He assured that the Federal Government remains committed to transparency, good governance, and renewal, while encouraging professionals to collaborate with government in promoting accountability across all sectors.