- FG to Create Jobs, Boost Exports With Shea Butter
The Federal Government is working on a policy that will harness opportunities in shea butter production, create jobs and enhance exports.
Mr Sunday Akpan, Permanent Secretary, Federal Ministry of Industry, Trade and Investment, disclosed this in Abuja on Monday.
Akpan, who was represented by Mrs Omololu Ope-Ewe, the Director, Department of Commodity Produce and Inspectorate (CPI), said the Federal Government is working towards stopping the importation of Shea-based products like vegetable oil, soap and other cosmetics.
“The country will build a virile Shea hub which takes us to a point where we will be exporting high quality Shea butter and other products instead of exporting the raw nut which yields close to nothing”.
“The policy will enable thousands of Nigerians to find new opportunities in Shea business and engage millions in both direct and indirect jobs for wealth creation,’’ Akpan said
He opined that the government must devise a means to deepen and gain reasonable market share for shea products in Nigeria.
“Nigeria accounts for about 57 per cent of global Shea supply, producing about 400,000 metric tonnes annually”.
“It is, however, disturbing that more than half of the total quantity produced is unaccounted for owing to poor post-harvest handling”.
“Others are lack of modern processing equipment, low investment, lack of innovation, research and development”.
The Director, Department of Commodity Produce and Inspectorate (CPI) Mrs Omololu Ope-Ewe also stated that lack of credit facility is hindering expansion and growth of quality shea products for global export.
She said that investors are careful not to invest in this sector due to the absence of protective mechanism and safety net that would meet their expectation in Return on Investment (ROI).
Mrs Funmi Ilamah, representing Management Strategy Advisory Ltd, said Nigeria lacked a solid structure to boost the sector.
According to her, Nigeria only export 10 percent of about 75 percent it produces.
She, therefore, advocated for improvement in the production of Shea through research and development.
