· Nigeria is targeting to achieve about $100 million annual earnings from shea butter exports.
· The plan was revealed at the third Technical Meeting of the National Committee on Export Promotion.
Nigeria is targeting to achieve about $100 million annual earnings from shea butter exports. Currently it earns only $5 million yearly by exporting the commodity.
The plan was revealed at the third Technical Meeting of the National Committee on Export Promotion. The Federal Capital Territory (FCT) Minister of State, Dr. Ramatu Aliyu, revealed that FCT administration has chosen Shea-butter and handicrafts under the special scheme because they were identified as high potential products for export. FCT administration is also resolved to promote One-State-One Product (OSOP) initiative whereby each state of the federation and the FCT will select a product and an alternate one in which it has a comparative and competitive advantage.
Aliyu also urged for stronger collaboration between Nigerian Export Promotion Council and other export facilitation agencies to strengthen support for stakeholders in the Shea-butter value chain. She added that Shea-butter and handicraft were chosen under the scheme, in order to link the rural communities with the national export value-chain and facilitate Nigeria’s socio-economic growth through job creation and families’ empowerment. Shea butter has a global demand for of $200 million annually.
