Nigeria exported N20bn Shea products in 2023 — NEPC
The Nigerian Export Promotion Council (NEPC) has disclosed that Nigeria exported over 17,000 metric tons of Shea products worth N20 billion ($14.5 million) in the year 2023. Executive Director/Chief Executive of the council Nonye Ayeni made the disclosure yesterday in Abuja during the launch of the Shea Nigeria Brand Launch. She said, “Every year, Nigeria […]
The Nigerian Export Promotion Council (NEPC) has disclosed that Nigeria exported over 17,000 metric tons of Shea products worth N20 billion ($14.5 million) in the year 2023.
Executive Director/Chief Executive of the council Nonye Ayeni made the disclosure yesterday in Abuja during the launch of the Shea Nigeria Brand Launch.
She said, “Every year, Nigeria produces about 400,000 tonnes of Shea nuts, making it the world’s largest producer, accounting for 53% of total output ahead of Burkina Faso, Ivory Coast and Ghana. Shea is an important crop heavily in demand by the food and cosmetics businesses locally and internationally.
“In 2023, Nigeria exported 17,302.55 tonnes of Shea valued at $14,591,419.56. This is a significant increase from the 8,229.91 tonnes exported in 2022 with an approximate value of $3,102,326.94.”
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She said the partnership between the CBI and the NEPC in the implementation of the four-year (2022-2025) Shea Nigeria Project will lead to huge foreign exchange earnings for the country.
Also, the Managing Director of the Centre for Promotion of Imports from Developing Countries (CBI) Judith Arends noted that Shea exports from Nigeria will help to add value to Shea marketing globally while reiterating the need to maximise the potential of the market.
MD/CEO of the Nigeria Export Import Bank (NEXIM), Abba Bello, stated that the bank has so far spent N5bn to set up major processing plants for Shea.