11 June 2019

Nigeria: 'Nigeria's Untapped Shea Butter Can Yield $2bn Annually'

The Nigeria Agribusiness Register Networking (AgNet), a business outfits says the country's untapped shea butter is capable of yielding two billion dollars about N721 trillion annually.

Mr Roland Oroh, the Managing Director of AgNet, made the disclosure at a press conference on Tuesday in Abuja.

The conference was organised to sensitise Nigerians on the potential of the shea butter products in the country through the outcome of the research conducted by the company.

Oroh said that AgNet has an investment facilitation platform of Commodity Development Initiative (CDI) was founded some years ago working with public and private sector partners to support development in Nigeria including increasing investment in agriculture.

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According to him, a Global Shea Alliance (GSA) briefing of the 6th International Shea Industry Conference revealed that Nigeria has the largest number of shea trees in the world.

Oroh said that the country hosts over 60 per cent of shea trees but failed to harness its full potential through value chain initiative to enter the global market.

He said that AgNet had shown a great concern over the discovered value chain and had concluded plans to host a larger conference to brief Nigerians on the potential of shea to the economy.

"AgNet through its monthly agribusiness networking events is facilitating investments into Nigeria that will help the country to gain control of a greater share of the world's shea butter market.

"The June edition of AgNet with the theme, Optimising the Nigerian Shea Industry for Global Reverence', will hold on June 20, and will focus on the shea value chain in Nigeria," he said. (NAN)

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