FG: Tinubu’s Shea Export Ban Will Unlock Nigeria’s Economic Potential

Minister of Information and National Orientation, Mohammed Idris, has hailed President Bola Tinubu’s temporary suspension of raw shea exports as a decisive policy to drive economic renewal, accountability, and inclusivity.

Speaking on Tuesday in Minna, Niger State, as Special Guest of Honour at the 20th Institute of Chartered Accountants of Nigeria (ICAN) Northern Zonal Accountants’ Conference, Idris described the move as a strategic step to position Nigeria as a global leader in the shea value chain. He was represented at the event by the Director-General of the Voice of Nigeria (VON), Jibrin Baba Ndace.

“This is not a mere policy experiment but a bold, forward-looking measure to unlock the full potential of our rural economy. By ensuring more of our shea is processed locally, Nigeria—which accounts for over 50% of global shea output—will no longer remain just a raw material supplier but emerge as a producer of high-value shea products,” Idris said.

The minister, a native of Niger State—Nigeria’s shea production hub—noted that the initiative would stimulate local investment, attract technology transfer, strengthen processing capacity, and create jobs for youth and women in rural areas. He added that it would boost foreign exchange earnings while deepening Nigeria’s role in international value chains.

He commended the National Shea Products Association of Nigeria (NASPAN) for aligning with the president’s vision, assuring stakeholders of government support to make it a success.

Speaking on the conference theme, “Socio-Economic Potentials, Accountability and National Re-Orientation: Unlocking Nigeria’s Future,” Idris stressed that accountability remains the cornerstone of sustainable progress. He urged Nigerians to “live by the right values, hold institutions accountable, and put Nigeria first in all actions.”

Idris further highlighted the Tinubu administration’s reforms—ranging from fiscal discipline, infrastructure renewal, and digital transformation to youth empowerment—as part of efforts to reposition the economy.

He cited key projects such as the Lagos–Calabar Coastal Highway, the Badagry–Sokoto Superhighway, the rehabilitation of the Eastern rail corridor, and the creation of Regional Development Commissions as evidence of equitable distribution of resources guided by fairness and accountability.

On governance reforms, Idris pointed to the Treasury Single Account (TSA) and the Government Integrated Financial Management Information System (GIFMIS) as tools to tighten financial controls, reduce leakages, and ensure better use of national resources.

Nigeria’s improved ranking on Transparency International’s Corruption Perceptions Index—from 145th in 2023 to 140th in 2024—he said, reflects the administration’s effective policies in tackling waste and promoting transparency.

He also linked the removal of fuel subsidy and the unification of the exchange rate to the government’s broader push for accountability, describing them as “decisive blows against waste and abuse of public funds.”

Idris called on accountants and other professionals to play a central role in national re-orientation, stressing that their expertise and ethical leadership could help entrench a culture of accountability, strengthen democracy, and foster sustainable development.