<< Back             Poser >> FG extends ban on Shea nut export to boost domestic processing By Peter Egwuatu,  with agency report   The Federal Government has extended its ban on Shea nut exports by a year, reinforcing a drive to curb raw commodity shipments and boost local value addition. The extension takes effect from February 26, 2026, to February 25, 2027. Approving the ban, President Bola Tinubu said that  Nigeria is trying to shift the Shea nut industry from exporting mostly raw produce to processing more high-value products like Shea butter and its derivatives, which can fetch prices as much as 20 times higher. He stated that the extension aims to “deepen processing capacity within Nigeria, enhance livelihoods in shea-producing communities, and promote the growth of Nigerian exports anchored on value-added products.”   Special Adviser on Information and Strategy to the President, Bayo Onanuga, said in a statement yesterday that the decision is aligned with the government’s industrialisation objectives under the Renewed Hope Agenda. “The decision underscores the administration’s commitment to advancing industrial development, strengthening domestic value addition, and supporting the objectives of the Renewed Hope Agenda,” he stated. Meanwhile, prices of the nuts slumped by a third after Nigeria in August joined other producers in West Africa by announcing a moratorium on shipments. They traded at about 850 naira (63 US cents) a kilogram at the end of the harvest season in December, according to Lagos-based commodities exchange AFEX. The production of shea butter in Nigeria is dominated by smallholders and women in rural villages in central Nigeria, where a growing number of attacks by extremists groups are devastating local communities.  Intermediaries who move products from smallholders to markets have also left the trade after the ban came into effect, resulting in lost contracts, the National Shea Products Association of Nigeria told  newsmen. Vanguard Business News	Dangote Cement revenue hits N4.31trn as profit tops N1trn Dangote Cement Plc has reported a 20.3 per cent revenue growth to N4.31 trillion for the year ended Dec. 31, 2025. NGX Group records N15.6bn profit, declares N3.00 dividend …Issues 1 for 3 bonus By Peter Egwuatu   The Nigerian Exchange Group, NGX Group has the recorded N15.6 billion Profit Before Tax, PBT,   in its audited results for the year ended 31 December 2025, up from N13.6 billion in the corresponding period 2024. The Exchange also declared N3.00 per share dividend and a bonus of one […] Dangote Refinery charts industrial future with surfactant plant By Providence Ayanfeoluwa Dangote Petroleum Refinery has announced plans to expand beyond crude processing into a fully integrated industrial hub, unveiling five major projects that aim to transform Africa’s manufacturing landscape. The project encompasses the ambitious expansion plan of a 400,000-tonne Linear Alkaline Benzene (LAB) plant to support detergent manufacturing across the continent. Addressing journalists during […] Oil Theft: How criminal networks are moving from creeks to communities For decades, Nigeria’s oil theft crisis was largely associated with remote creeks, mangrove swamps and offshore vandalism in the Niger Delta. Increasingly, however, security agencies say the trade is migrating inland-embedding itself within civilian communities, markets and transport corridors where it can operate under the cover of everyday commerce. The recent exposure of Owaza Mami Market […] FG extends ban on Shea nut export to boost domestic processing By Peter Egwuatu,  with agency report   The Federal Government has extended its ban on Shea nut exports by a year, reinforcing a drive to curb raw commodity shipments and boost local value addition. The extension takes effect from February 26, 2026, to February 25, 2027. Approving the ban, President Bola Tinubu said that  Nigeria is trying to […] Lafarge Africa revenue surges 53% to N1.1trn By Peter Egwuatu Lafarge Africa Plc has announced a revenue milestone of N1.1 trillion in 2025, representing a 53% surge from N696.8 billion recorded in the corresponding period of 2024. Profit After Tax (PAT) rose from N100.1 billion in 2024 to N273 billion representing a 173% increase. The company said this performance is underpinned by volume-led […]