Shea butter can generate $10 billion to the Nigerian economy yearly when rightly harnessed, according to the Nigerian Export Promotion Council (NEPC).
This came from the NEPC Executive Director/Chief Executive Officer Olusegun Awolowo on Thursday in Ilorin, Kwara State at a workshop on shea butter, and acceptable practices for stakeholders across the cashew valued chain.
According to Awolowo, “Rather than using it (shea butter) manually, if you add value to it, there are opportunities along the value chain in cosmetic, food industry and pharmaceuticals.
“Among these key subsectors, there are areas we can add value and make more foreign earning.
“The international value of shea butter is in billions. We need to close some gaps such as capacity and finance.”
He added that “If we do the right investment, Nigeria can earn $10bn annually from shea butter export; If we make the right investments in the areas of processing and value addition to the actual export.”