Alliance for Financial Analysis and Ethics Ltd/Gte has urged the federal authorities to train warning when implementing its proposed ban on uncooked shea nut exports. It cautions {that a} rushed method may jeopardise current investments, undermine hundreds of livelihoods, and erode Nigeria’s competitiveness within the world market.
In a press release yesterday, the organisation, signed by its chairman, Dele Kelvin Oye, recommended the federal government’s push for native processing and worth addition within the shea business, which is estimated to be price $6.6 billion. It mentioned the coverage aligns with President Bola Tinubu’s industrialisation agenda and has the potential to remodel rural economies and empower ladies.
Nevertheless, the agency expressed concern that the sudden coverage shift with out sufficient transition measures or stakeholder session may disrupt current export contracts, discourage buyers, and expose smallholder farmers to losses.
“Fast coverage reversals with out sufficient transition and sector-wide session danger undermining ongoing commitments, funding plans, and the livelihoods of many members of our Alliance commerce networks,” the group warned.
The Alliance known as for a phased and consultative rollout of the export ban, backed by clear authorities communication. It urged authorities to supply financing choices, technical help, and workforce coaching to assist processors improve services and meet export requirements.
The group additional beneficial that the federal government intervene by buying unsold shea inventory. This, it argued, would help small-scale producers, discourage smuggling, and assure provide for native processors.
Citing examples from Ghana, Malaysia, and Indonesia, the place phased industrial insurance policies had been efficiently applied, the Alliance harassed that Nigeria should undertake a managed transition interval with measurable milestones to guard weak gamers within the worth chain.
“We consider within the potential of Nigeria’s shea business and its capability to contribute considerably to the economic system. However to succeed, the federal government should keep away from disruption by adopting a transition plan that safeguards contracts, empowers stakeholders, and sustains Nigeria’s commerce fame,” Oye mentioned.
