Nnanyelugo Ike-Muonso, Director-General of the Raw Materials Research and Development Council (RMRDC), stressed the urgent need for Nigeria to develop a competitive and inclusive Shea industry to strengthen the national economy. Speaking at an investors’ forum in Ibadan, he highlighted the potential of the Shea sector to create jobs, empower women, generate significant export revenue, and preserve ecosystems.
He pointed out that despite Nigeria being one of the world’s largest Shea producers, much of the nuts are exported raw, missing out on value addition that could drastically increase economic gains. The forum titled “Enhancing Shea Nut Resources and Its Export Potential for Economic Value,” aims to mobilize finance, forge partnerships, and boost innovation to transform the industry from cultivation and processing to packaging, branding, and export.
Mrs. Abosede Owoye from Oyo State Ministry of Agriculture called Shea “a cornerstone of the rural economy” with untapped economic and medicinal potential. Commissioner Olabode Adeniyi emphasized value addition to increase foreign exchange earnings, while chairman John Karunwi urged critical stakeholders to support the industry and prevent the depletion of Shea resources.
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