Joyce Mmereole Okoli
Nigeria’s freight forwarders and exporters are warning that the Federal Government’s sudden ban on the export of raw shea nuts could wipe out over $500 million in investments, while crippling one of the country’s most promising non-oil export sectors.
At a press briefing in Lagos, the National Coordinator of the Save Nigeria Freight Forwarders, Importers and Exporters Coalition (SNFFIEC), Dr. Osita Chukwu Patrick, said hundreds of containers of shea products already processed for shipment are now stranded at the Lilypond Export Process Terminal in Lagos following the August 26 directive.
He disclosed that about 500 containers of shea butter and nuts are trapped at various terminals, with more than 100 belonging to members of his coalition.
“Exporters mortgaged properties and sunk huge investments into this trade. Now, the sudden halt has left them at the mercy of creditors and insurers. This is nothing short of economic sabotage,” he lamented.
The ban, issued by the government for an initial six months, is intended to stimulate local processing and position Nigeria as a global supplier of refined shea derivatives. But exporters argue that its abrupt enforcement without prior notice undermines confidence, threatens jobs, and could trigger litigation.
“This decision is ill-advised and a kick in the gut, Nigeria stands to lose at least $100 million immediately, and up to $500 million in the near future if this policy is not reviewed. Exporters should have been given a grace period of at least six months before implementation,” Osita said. “
He stressed that the development contradicts government’s campaign to boost non-oil exports and foreign exchange earnings. “Ships are waiting offshore while loaded containers sit idle at the terminals. It is a costly logjam draining resources and damaging Nigeria’s credibility in global trade,” he added.
The Coalition urged President Bola Tinubu to suspend or rescind the order, or at the very least, allow exporters with already processed shipments to complete their transactions. Failure to act, Osita warned, could lead to massive job losses, litigation, and further erosion of investor confidence in the maritime and export sector.