Shea Nut Prices Drop 30% Post-Export Ban, CPPE Urges Government Action
The sudden ban on raw shea nut exports in Nigeria has led to a 30% price plunge, causing disruptions across the shea value chain and threatening livelihoods and investor confidence. The Centre for Promotion of Private Enterprise (CPPE) highlighted the adverse effects of the export ban, resulting in severe economic consequences for farmers, aggregators, exporters, and logistics providers.
The CPPE CEO, Muda Yusuf, urged the government to adopt a phased consultative approach to mitigate the negative impact on rural incomes and investor trust. Since the ban's implementation, the shea nut market has experienced a significant price collapse, leaving many stakeholders struggling financially and risking defaults on bank loans.
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