00:00Nigeria is taking a bold step to reshape its share industry and unlock its economic potential.
00:07On August 26, 2025, President Bola Ametunubu announced a six-month temporary ban on the
00:14export of raw share nuts, a move designed to transform Nigeria from a raw material supplier
00:20into a global powerhouse for refined share products.
00:25Nigeria produces an estimated 350,000 metric tons of share nuts annually across 30 states,
00:33accounting for nearly 40% of the world's supply.
00:37Yet, the country captures less than 1% of the $6.5 billion global share market, largely due
00:46to exporting unprocessed nuts and losing over 90,000 tons yearly to informal cross-border
00:53trade.
00:54This ban, effective immediately, aims to change that by securing raw material for local processors
01:02who currently operate at just 35 to 50% capacity, despite a national potential of 160,000 tons.
01:12The policy is a game-changer.
01:14By prioritizing value addition, Nigeria could generate $300 million in annual revenue in
01:20short term, with ambitions to eat $3 billion by 2027.
01:25This aligns with the Tenubu administration's push for economic diversification and rural
01:31transformation.
01:32With 90 to 95% of share pickers and processors being women, the ban is said to empower rural
01:39communities, boost household incomes, and create sustainable jobs.
01:44Nigeria is also eyeing new markets with agreement to supply share butter and hoi to Brazil, expected
01:51within months.
01:52Positioning the country to compete in global markets projected to reach $9 billion by 2030.
02:00While the ban has sparked excitement, success aims on addressing challenges, stakeholders
02:06urge investment in processing infrastructure and support for small businesses to maximize
02:12impact.
02:13As Vice President Kashim Shatima emphasized, this is a collective effort involving federal and
02:19state governments, processors, and rural communities.
02:22With the right steps, Nigeria's share industry could lead the world.
02:28This is Nigeria's moment to shine in the global share market.
02:33Stay tuned as the nation works to turn grown-ups into refined riches, empowering women and driving
02:40economic growth.
02:52This is a state-level framework.
02:53We are getting close-ups into advanced history.
02:55We are getting close-up right now.
02:58Thank you for the spreader of this culture.
03:04We have an international part of the world at the world at the world where we are
03:05connected to Canada, Canada.
03:08We are getting close-up right now.
03:09And I think that it's a great day.
03:12And there our Irenaean has a delivery of the world's forests.
03:14We may come to share in the global investments for our cities.
03:18And you will get close-up right now as we continue to connect with them.
Comments