Business Opportunities in Nigeria and Across the World

Yes, you read it right! Shea Butter Extraction/Refinery business is another goldmine that is yet untapped. Only a few numbers of international and local organizations in Africa are players in this market. Though, the government in some African countries have also entered this market but still the market remains fully untapped. Shea Butter Production on it’s own is a goldmine as Shea Butter will continue to remain one of the foremost ingredients used in the cosmetic, pharmaceutical and confectionery industries. Today, the global shea market represents an estimated value of $2.75 billion, which is set to double within the next ten years to exceed $5.5 billion by 2033. Africa produces approximately 1,760,000 metric tons (MT) of raw shea nuts a year, and historically, most of this stayed within the African continent to supply domestic demand. The shea export market traditionally traded raw shea kernels rather than shea butter or other finished products. The shea tree is scattered across Af

 

 

The Federal Government of Nigeria on Thursday January 19, 2023 has lifted the Export Ban on Hardwood Charcoal and Processed Wood as this ban has affected a lot of businesses and also caused many to close shops untimely. However, the ban lifted has come on the condition that all stakeholders involve in  trading of Hardwood Charcoal and Processed Wood follows the Nigeria Timber Legality Standard for Export of Processed Wood and Hardwood Charcoal. The procedure was launched the same day by the Minister of Environment, Mohammed H. Abdullahi. He discussed that stakeholders not following the Nigeria Timber Legality Standard for Export of Hardwood Charcoal and Processed Wood will be prosecuted accordingly. Also, a task force will be raised to ensure compliance by organizations involve. The most important aim of the Nigerian Government is to stop the abuse of the forest and ensure plantation of more trees to replace the ones that have been cut, at least planting 3 new trees against 1 that has