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As the power crisis in Nigeria shows no sign of improvement, a renewable energy company and strategic partner of LONGi, WERAN Solar Co., Ltd, Shanghai, has partnered with Nigerian solar system installers, unveiling different size of affordable inverter to help tackle the country energy crisis.

Speaking recently at an installers’ training and partnership forum held in Lagos, Deputy Managing Director of WERAN Africa, Pepper Guo, said the firms inverter products were affordable and was a long-term investment for households and businesses struggling with power shortages.

Guo stated that the company viewed Nigeria as a key hub for its African operations, which necessitated it investment by setting up branches in some states.

‘We did not come to Nigeria for a short-term market. We came because we see the potential of this country and want long-term development here.

‘Our goal is to build partnerships, share the future together, and provide quality solar solutions that Nigerians can rely on,’ Guo said.

Marketing Manager Ngoziukwu Livingstone, who spoke on behalf of the company, stated that the event was necessary for the installers to be able to distinguish the company products, especially, knowing which is high-quality and low-quality solar panels in the market.

‘ One of the reason of organising this event, is to teach them how to identify original products, understand efficiency standards, and meet us directly to ask questions’, he said.

One of the highlights of the training was WERAN’s authentication system, which allows installers to scan a code at the back of each solar panel to confirm its originality.

The event which was well-attended brought together solar installers from across Lagos State and Nigeria

to educate them on the latest photovoltaic technologies and address challenges in differentiating genuine solar products from fake or substandard ones flooding the market.

Also speaking at the event, especially on the rise in cost of Inverter and panel in recent years, WERAN’s Sales Director, Quasim Lawal, disagreed with perceptions that prices had risen over the last few years.

According to him, contrary to public belief, solar prices have not significantly increased. Since President Bola Tinubu’s administration removed certain import duties on solar raw materials, more companies are entering the market.

‘ I think the difference lies in premium products, which naturally cost more than mass-market alternatives,’ he said.

The sales Director, equally called for stronger government policies to regulate the industry, likening the need for a solar regulatory body to the role of NAFDAC in the pharmaceutical sector.

‘There is no effective regulation for solar products in Nigeria. Many fake and adulterated products enter the market because there is no strict quality control. This makes it hard for sincere firms like us to compete,’ he said.

To address affordability challenges, he revealed that while it operates on a business-to-business model, Nigerian banks such as Sterling, Wema, and Fidelity now offer renewable energy financing packages, enabling households to access loans to pay for solar installations in instalments.

Speaking on what distinguishes WERAN’s panels with others in the market, Lawal stressed that the firm’s premium 610W HPVC panels, produced in collaboration with LONGi, are being sold at a discounted rate, far lower than the international market price.

‘We have also partnered with global inverter and battery manufacturers, including Deye and Lithium Valley, to ensure durability and complement the quality of its panels.’

Despite successive government efforts and investment Nigeria energy crisis has persisted for decades, with many Nigerian and businesses relaying on generators or other alternatives.

About half of the population have no access to power, making demand for

renewable energy rising daily.

However, many Nigerians can’t afford especially since the advent of the current administration which initiated reforms which has push more Nigerians into poverty.

Since its establishment in 2015, WERAN has expanded rapidly across Asia, the Middle East, and Africa. Its Nigerian subsidiary, set up in 2024 in partnership with Rayonannce Energy FZE, runs a warehouse in the Lekki Free Trade Zone to serve the West African market.

With the Federal Government targeting renewable energy to power millions of homes by 2030, stakeholders believe that partnerships between global companies like WERAN and local installers will play a critical role in bridging Nigeria’s energy gap.

Babajide Sanwo-Olu, Lagos State governor, has signed a landmark Memorandum of Understanding (MoU) with the Bank of Industry (BOI) to enhance workplace safety standards among Micro, Small and Medium Enterprises (MSMEs) across the State.

The agreement, part of a broader initiative to promote safer, healthier and more productive work environments, also coincided with the launch of the Safety First Campaign and the unveiling of the first-ever Occupational Safety Cadre in the Lagos State public service.

Sanwo-Olu, at the third Lagos State Occupational Safety and Health Conference held in the State with the theme, ‘Occupational Safety and Health (OSH) as a catalyst for nation Building,’ in Lagos, on Tuesday, reiterated his Administration’s commitment to promoting workplace safety, public health and environmental protection.

He described the new occupational safety cadre as a groundbreaking initiative and the first of its kind in sub-Saharan Africa, noting that it would institutionalise safety as a professional discipline within the Lagos State civil service.

‘For the first time, safety will not just be treated as a hard-core responsibility but as a recognized career path, complete with its own structure, training, and expertise. These steps will ensure that generations of Lagosians benefit from a professional core dedicated solely to occupational safety and health,’ he said.

The State governor also highlighted the role of technology in driving modern safety standards, just as he announced the deployment of drones for surveillance, body cameras and thermal detection tools to enhance monitoring, enforcement, and emergency response.

Olasupo Olusi, Managing Director and Chief Executive Officer of BOI, in his keynote address entitled, ‘Occupational Safety and Health as the Catalyst of Sustainable Nation Building,’ said there is overwhelming evidence that inadequate workplace safety continues to pose significant risks to workers globally.

Olusi cited studies that showed between 10% to 30% of industry workers suffer injuries, occupational diseases and health hazards on a yearly basis, which include physical accidents, exposure to harmful chemicals, long term respiratory complications, among other issues.

According to him, the consequences of work-related accidents and illnesses are profound and result in lost workdays, reduced productivity, and rising healthcare costs. He said while various African countries are ensuring safer work environment, Nigeria must position itself as a regional leader in embedding Environmental, Social and Governance (ESG) -driven safety practices across all sectors, from high-risk industries to MSMEs.

‘By integrating global standards, technology, and accountability, we can build workplaces that are safe, competitive, and resilient,’ he said..

Lanre Mojola, the Director General, Lagos State Safety Commission (LSSC), said the Agency realised enforcement action is reducing as compliance is increasing. He assured that the Agency would continue to increase inspection across the state as enforcement is returned.

Mojola also stated that the agency would ensure that Vertical Transportation Equipment are fully enforced to the letter as Lagos continues to move on. He reiterated that over 20,000 facilities already registered have GPIS with pictorial evidence.

Earlier, Olugbenga Oyerinde, Commissioner for Special Duties and lnter-Governmental Relations, stressed that occupational and general public safety remains a top priority to the State Government, saying, ‘every Lagosian, deserves to live, work, and move freely without any fear.’

The Supreme Court of Nigeria has reserved judgment in a suit filed by the Osun State Government against the Attorney General of the Federation (AGF) over the release of withheld local government (LG) funds to disputed council chairmen.

Justice Uwani Aba’aji, who led a seven-member panel, announced during Tuesday’s proceedings that judgment would be delivered at a later date, and both parties would be notified when it is ready.

The suit marked SC/CV/773/2025, was filed by the Osun State Attorney General, seeking to restrain the AGF from releasing statutory allocations to local government chairmen elected under the All Progressives Congress (APC).

Osun argues that these chairmen were not validly elected and should not receive funds.

The state also seeks an order compelling the AGF to release funds to council officials it recognizes as lawfully elected across the 30 LGAs.

The case was brought under the court’s original jurisdiction, following a letter from the AGF recognizing the APC chairmen despite ongoing litigation.

Osun argues that the AGF acted improperly by granting recognition while the matter was still pending in court.

The state pointed out that the elections that brought in the APC chairmen were nullified by a Federal High Court, a decision upheld by the Court of Appeal.

Representing the state, Musbau Adetumbi, SAN, urged the court to grant the reliefs sought, stating the AGF’s actions undermined the judicial process.

In response, Chief Akin Olujimi, SAN, representing the AGF, raised a preliminary objection.

He argued that Osun lacked legal standing (locus standi) to bring the matter directly before the Supreme Court, claiming the dispute is political and not within the court’s original jurisdiction.

Olujimi also argued that the suit disclosed no valid cause of action, noting that the tenure of the APC chairmen remains until October 22.

He maintained that the statutory funds should be released to them in the meantime.

He further accused the Osun State Attorney General of abusing court processes by filing similar cases in several high courts involving the same parties and issues.

He asked the court to dismiss the case and deny all reliefs sought by the plaintiff.

7Star Global Hangar Ltd has achieved another significant milestone in its regional expansion strategy with the official approval granted by the National Civil Aviation Agency (NCAA) of the Republic of the Congo (Congo-Brazzaville) to perform base maintenance inspection services on TN-registered aircraft.

This approval positions 7Star Global Hangar Ltd as a recognised Approved Maintenance Organisation for operators from the Republic of the Congo, strengthening bilateral aviation collaboration between Nigeria and Congo-Brazzaville.

The authorisation allows the company to undertake heavy maintenance checks, structural inspections, and other base-level engineering services for aircraft registered under the Congolese civil registry.

Speaking on the development, Isaac Balami, CEO of 7Star Global Hangar Ltd, described the approval as ‘a testament to our consistent pursuit of excellence, safety, and compliance with international aviation standards.’ He added that the certification underscores the company’s growing reputation as a Pan-African MRO hub, serving operators across Central and West Africa.

With this new certification, 7Star Global Hangar Ltd continues to expand its maintenance capabilities and reinforce its commitment to advancing Africa’s aviation maintenance ecosystem through quality service, safety, integrity, and regional partnership.

Polkadot news is turning heads as its community backs a new algorithmic stablecoin proposal, while Solana (SOL) price analysis highlights potential gains from ETF approvals and network upgrades. Yet, among these top crypto assets, one project continues to capture mainstream attention: BlockDAG. The Layer 1 hybrid blockchain-DAG network has extended its dominance through global visibility and institutional traction.

As investors evaluate the best-performing projects of 2025, BlockDAG’s alliance with the BWT Alpine Formula 1® Team, under its CLAIM campaign, stands as a defining moment. With over $420 million raised, 27 billion coins sold, and 3 million X1 app users, its growth surpasses speculative projects. While Solana and Polkadot build momentum, BlockDAG’s Alpine deal transforms visibility into enduring market strength.

Polkadot’s Push into Stablecoin Expansion

Recent Polkadot news reveals an ambitious step toward ecosystem expansion with the community’s approval of pUSD, a DOT-backed algorithmic stablecoin. This proposal, supported by the Polkadot Treasury and parachain teams, marks a crucial move to stabilize on-chain liquidity and expand cross-chain interoperability. Analysts believe the introduction of pUSD could reframe DOT’s utility, allowing developers to integrate stable assets directly into decentralized applications.

Currently, DOT hovers near $6, reflecting investor patience as the stablecoin framework unfolds. The move signals a new era for Polkadot’s ecosystem, potentially positioning it alongside leading DeFi infrastructures. However, DOT’s future trajectory still depends on execution timelines and adoption rates. While it remains a top crypto asset for long-term holders, momentum investors might find BlockDAG’s tangible ecosystem growth-anchored by real-world integrations and visibility-more immediately rewarding than Polkadot’s governance-driven roadmap.

Solana’s Price Analysis: ETF Talks Fuel Institutional Hopes

The latest Solana (SOL) price analysis indicates that the token is consolidating near $210 after a volatile correction. Analysts highlight that the token’s fundamentals remain strong, with optimism around potential ETF approvals adding a new narrative to its bullish case. SOL’s on-chain activity continues to rise, with daily transactions surpassing 25 million, driven by network upgrades improving validator efficiency and throughput.

Despite short-term resistance near $230, the macro structure for Solana remains supportive. Whale wallet accumulation suggests institutional interest, while developers continue to roll out dApps across DeFi, NFTs, and gaming. Still, Solana’s recovery depends on sustained market participation and macroeconomic cues. For investors seeking exposure to the next wave of blockchain adoption, Solana remains among the top crypto assets. Yet, it’s BlockDAG’s proven traction and global branding through the Alpine CLAIM initiative that add an unmatched layer of visibility and trust.

BlockDAG’s CLAIM Bonus Powers Institutional Trust

BlockDAG’s collaboration with the BWT Alpine Formula 1® Team is more than a marketing play; it’s a signal of maturity in the blockchain landscape. As the official Layer 1 blockchain partner, BlockDAG merges high-performance motorsport with high-efficiency technology, showcasing how real-world brands can engage with decentralized ecosystems.

This partnership has driven exponential community growth, now exceeding 312,000 BDAG holders, alongside 3 million+ X1 app miners contributing daily engagement. The presale has already raised over $420 million, with 27 billion BDAG coins sold and 20,000 X-Series miners shipped globally. The BDAG coin is currently in batch 31, priced at just $0.0015 for a limited time. The partnership reinforces trust, positioning BlockDAG among the most credible projects entering the 2025 cycle.

What separates BlockDAG from competitors like Polkadot or Solana is execution. While others focus on speculative milestones, BlockDAG delivers hardware, real-time visibility, and verified partnerships. The partnership, supported by the bonus code CLAIM, encapsulates a campaign where performance meets precision. By combining elite sport with blockchain utility, BlockDAG isn’t chasing trends; it’s defining them.

Conclusion

As Polkadot explores stablecoin expansion and Solana attracts ETF speculation, BlockDAG stands on proven momentum. The BWT Alpine Formula 1® partnership extends its technological narrative into mainstream culture, transforming BDAG from a presale success to a global brand. With over $420 million raised, 3 million users, and 20,000 miners already deployed, it demonstrates sustained delivery.

For those evaluating the top crypto assets for 2025, the bonus code CLAIM symbolizes more than a promotion; it represents a bridge between blockchain innovation and real-world engagement. In a market full of promises, BlockDAG’s BWT Alpine Formula 1® Team deal shows why it’s not just another Layer 1; it’s the best crypto coin to buy for those seeking verified performance, visibility, and long-term potential.

The Foreign Exchange (FX) market, now reaching nearly $10 trillion in daily turnover, is the world’s largest and most liquid financial market, but remains vulnerable to shocks, according to a new report by the International Monetary Fund (IMF).

This warning was published in a blog post entitled ‘Economic Uncertainty Can Test the Resilience of the Foreign Exchange Market’, co-authored by Andrea Deghi, Mahvash S. Qureshi, and Tomohiro Tsuruga, all experts in the IMF’s Monetary and Capital Markets Department.

The IMF emphasised that the FX market underpins global trade and finance, but its structure is evolving. Nonbank financial institutions (NBFIs) are playing an increasingly central role in managing currency risk and accessing foreign funding.

Due to its centrality in the international financial system, the FX market is highly sensitive to macroeconomic changes and policy uncertainty. The IMF’s analysis, featured in the Global Financial Stability Report, shows that rising global uncertainty typically boosts investor demand for safe-haven assets like the US dollar, leading to increased volatility and liquidity strains.

For instance, during the March 2020 COVID-19 shock, dollar purchases by non-US residents surged by 24 percentage points in response to heightened financial uncertainty, measured through expected swings in US stock prices. This spike in safe-haven demand was particularly strong among NBFIs, whose activity can support liquidity during normal times but may amplify fragility during stress episodes.

Periods of uncertainty often trigger sharp currency swings, wider bid-ask spreads, and rising hedging and funding costs. These dynamics are captured using the ‘cross-currency basis,’ a key stress indicator that reflects the cost of currency swaps. The impact tends to be more severe in emerging markets, which often lack deep dollar liquidity and robust financial infrastructure.

Recent geopolitical and policy shifts such as evolving trade tensions and supply chain changes have further tested market resilience. Following US tariff announcements in April, for example, nonresident demand for dollars increased, though less dramatically than during earlier shocks. Cross-country trading patterns also diverged, with some economies shifting to net dollar selling. Notably, hedging demand from nonresident NBFIs remained strong and persistent, signaling evolving market responses.

Stress in FX markets doesn’t remain contained. Rising funding and hedging costs can spill over to other asset classes, affecting yields and risk premiums in equities and bonds. These conditions can also strain financial institutions’ intermediation capacity, tightening overall financial conditions and increasing systemic risks.

Such spillover effects are particularly intense in economies with high macro-financial vulnerabilities, such as elevated public debt or significant foreign currency exposures across financial institutions.

Beyond economic shocks, FX markets are also vulnerable to operational disruptions, including cyberattacks, system outages, and settlement risks, the failure of one party to fulfill its side of a currency trade. The IMF notes that even short outages on trading platforms can severely impair market liquidity. Settlement risk is especially pronounced in emerging and developing markets that lack access to mechanisms like real-time simultaneous settlement systems.

Despite its deep liquidity, the FX market remains exposed to multiple forms of stress. The IMF calls on policymakers to strengthen market surveillance and address systemic risks more proactively. Enhanced stress testing and scenario analysis are critical for identifying vulnerabilities, especially in funding channels.

Authorities should also close existing data gaps, ensure adequate capital and liquidity buffers in financial institutions, and establish strong crisis management frameworks for swift responses to shocks.

Operational resilience must also improve, the IMF urges, through greater investment in cybersecurity and contingency planning to protect critical market infrastructure. Broader adoption of simultaneous settlement systems could reduce settlement risk. Additionally, modernising trading platforms can help lower transaction costs, reduce volatility, and enhance reliability.

By advancing comprehensive surveillance, strengthening institutional safeguards, and embracing digital innovation, the FX market can be better positioned to support global financial stability.

Lucky Iraboro, the former chief of defence staff (CDS), has described the March 2022 Abuja-Kaduna train terrorist attack as the most difficult and emotionally draining experience of his military career.

Speaking on Politics Today, a Channels Television programme, on Monday, the retired general said the incident tested the limits of Nigeria’s security architecture and demanded the full weight of his experience as the nation’s top defence officer.

‘For me, during the time I was CDS, the security situation around the country was most troubling.

‘I think the most challenging was the incident involving the train abduction, which added to the dynamics of the challenges we were facing at the time. All the experiences one had prior to that time were deployed to ensure those who were abducted were rescued’, Irabor said.

The former defence chief recalled how the Defence Headquarters had to mobilise extensive resources, coordinate multiple security agencies, and devise complex rescue operations to secure the release of passengers kidnapped during the train attack.

Irabor said the experience not only tested the nation’s resolve but also deepened his appreciation for the courage of troops confronting insecurity in different parts of the country.

The March 28, 2022 attack shocked the nation when terrorists bombed the rail tracks and opened fire on passengers travelling from Abuja to Kaduna.

Dozens were killed, several others sustained injuries, and at least 61 passengers were abducted.

The victims were eventually released in batches, with the last group regaining freedom about seven months later.

Beyond the train attack, the retired general highlighted ongoing counter-insurgency efforts in the North-East and protection of oil infrastructure in the Niger Delta as other major priorities during his tenure.

‘Beyond that, the North-East operation was deep in my mind. Having served a greater part of my career there, I felt a need to return to ensure that operations were conducted effectively without losing our teams,’ he said.

He also stressed that safeguarding oil production was vital to sustaining the country’s economic stability.

Reflecting on life after active service, Irabor said retirement has offered him the freedom to pursue personal passions and intellectual work.

He noted that his experiences in uniform inspired his book, Scars: Nigeria’s Journey and the Boko Haram Conundrum, which explores the country’s prolonged struggle with terrorism.

The 2022 train attack triggered widespread outrage and renewed calls for stronger intelligence coordination and enhanced railway security.

Two years later, in January 2024, the Nigeria Police Force announced the arrest of one Ibrahim Abdullahi, also known as ‘Mande,’ the alleged mastermind of the attack.

According to then police spokesperson Olumuyiwa Adejobi, Abdullahi was arrested by the anti-kidnapping unit of the Kadu Chna State Criminal Investigation Department (SCID) and confessed to leading a notorious kidnapping syndicate that had terrorised the Kaduna-Abuja highway.

Irabor served as Nigeria’s Chief of Defence Staff from January 2021 to June 2023 under the administration of former President Muhammadu Buhari.

The Federal Government has reconstituted and inaugurated the Mahmud Yayale Ahmed Federal Government Tertiary Institutions Expanded Negotiation Committee to accelerate ongoing discussions with academic and non-academic unions across universities, polytechnics, and colleges of education.

Speaking at the meeting, Maruf Tunji Alausa, Minister of Education, said the new committee was designed to harmonize all negotiation processes under one coordinated framework that reflects institutional memory and sector-wide inclusiveness.

According to a statement signed by Boriowo Folasade, Director, Press and Public Relations, the minister was joined by Mohammed Maigari Dingyadi, Minister of Labour and Employment, and Suwaiba Sai’d Ahmed, Minister of State for Education.

Alausa explained that, unlike previous fragmented negotiations , the expanded committee will engage all unions collectively to achieve a comprehensive and sustainable agreement. ‘The membership of the committee has been carefully chosen to represent the full spectrum of the education sector, ensuring that no group is left behind,’ he said.

The Minister disclosed that the committee has been provided with a well-equipped and functional secretariat to enable it to carry out its mandate effectively, adding that its inaugural meeting will hold at 2 p.m Tuesday 7th of October. He urged all academic and non-academic unions to cooperate fully and respond promptly to the committee’s engagements.

According to him, President Bola Ahmed Tinubu has given full political backing to the process, with a clear directive that all negotiations be concluded swiftly, fairly, and in the spirit of mutual respect. ‘President Tinubu’s mandate is that all our children must be in school. This is renewed hope in action,’ Alausa emphasised.

He expressed appreciation to all unions for their patience and commitment as the government works toward a final and comprehensive agreement.

In his remarks, the Minister of Labour and Employment, commended the Ministers of Education for their exemplary leadership and inclusive approach in the ongoing negotiation process. He emphasised that true and lasting peace can only be achieved when all stakeholders are involved, noting that excluding any party would only breed division and undermine collective progress.

He further urged members of the expanded committee to act as impartial reconciliators, upholding justice, fairness, and stability while mediating between employers and employees. The Minister reminded them that their early participation will ensure effective implementation of the final agreements, fostering transparency and mutual understanding.

He called for dedication to the process and continuous engagement with all parties, acknowledging both the limitations of government and the legitimate concerns of workers. Reaffirming President Bola Ahmed Tinubu’s commitment to fair and lasting resolutions, he stressed that dialogue, consultation, and open communication remain vital to preventing future industrial actions and ensuring sustained peace and progress in the education sector.

Responding on behalf of the committee, Mahmud Yayale Ahmed, the chairman, expressed gratitude to the Federal Government for the confidence reposed in them to steer such a crucial national assignment.

He assured that the committee will approach its task with openness, inclusiveness, and integrity, listening to all stakeholders, fostering trust, and working toward agreements that promote industrial harmony and strengthen the nation’s tertiary institutions.

He pledged that the committee will not only negotiate but also ensure that the recommendations and agreements reached are practical, realistic, and capable of sustaining long-term peace and productivity within the education sector.

Plans are underway for a potential Anthony Joshua vs Martin Bakole heavyweight blockbuster fight in Nigeria in 2026, as top Nigerian promoter Dr. Ezekiel Adamu pushes to bring one of the sport’s biggest events to Africa.

Following his IBF world heavyweight title defeat to Daniel Dubois at Wembley Stadium in September 2024, former two-time world champion Anthony Joshua is gearing up for a comeback and Nigeria could be the stage for his next big fight.

Adamu Confirms Talks with Anthony Joshua’s Camp

Dr. Adamu, the CEO of Balmoral Group Promotions, who recently staged the successful ‘Chaos in the Ring’ boxing event in Lagos in partnership with Amir Khan, confirmed that discussions are already underway to bring Joshua home for a landmark bout.

‘It was an amazing success, a new opening for boxing in Africa,’ Adamu told Sky Sports.

‘The reception has been great from the locals, the boxing world, and the government as well.’

Adamu revealed that talks are ongoing to secure Anthony Joshua’s fight in the first quarter of 2026.

‘We’ve had a preliminary conversation, and we’ll keep going,’ Adamu said.

‘We all know AJ has always said he wants to fight in Africa before the end of his career, and we believe Nigeria is the best story. With over 250 million people and a strong economy, Nigeria is the heartbeat of Africa, and we’re ready to make it happen.’

Adamu also acknowledged Bakole as one of several possible opponents being considered.

‘He’s definitely an option,’ he said. ‘There are a lot of names on the table for this particular fight, but we want something that will excite the world and bring real sporting energy to Africa, especially Nigeria.’

Bakole Keen to Face Anthony Joshua in ‘Rumble in the Jungle II’

One of the frontrunners to face Joshua is Congolese heavyweight Martin Bakole, a former sparring partner of the British-Nigerian star. Bakole, who has shared the ring with Joshua in training camps, is eager to make the fight happen.

‘I’d take the fight with Anthony Joshua in a heartbeat,’ Bakole told Sky Sports. ‘We’re both African fighters, and now we’re seeing boxing return to Africa. If we get in the ring, I’ll knock him out, even in front of his home crowd in Nigeria. This would be the Rumble in the Jungle II.’

Shea nut prices in Nigeria are stabilising after a brief dip following the federal government’s ban on raw exports. Prices, which fell sharply in the days immediately after the announcement, have steadily rebounded as domestic processors step in to absorb supply. Today, average prices are approaching pre-ban levels, signaling growing confidence in the policy.

Market data shows that shea nut prices in Nigeria are stabilising after a brief dip following the federal government’s ban on raw exports. Before the policy was announced, prices averaged around N850 per kilogram. In the days immediately following the announcement, prices fell sharply to about N570 per kilogram as traders and middlemen adjusted to the new market realities. However, by mid-September, prices had rebounded to N710 and N800 per kilogram towards the end of September, indicating renewed confidence and an emerging balance between supply and demand. As of today, the average market price for shea nuts stands at approximately N1,000 per kilogram, reflecting both recovery and growing stability.

The policy is anchored in the Renewed Hope Agenda and reflects President Bola Ahmed Tinubu’s Nigeria First policy, which prioritises domestic value addition as the pathway to growth. Though the country supplies more than a third of the world’s shea, it captures less than one percent of the $6.5bn global market because raw nuts have historically been exported with minimal processing. By securing raw material for over 20 local plants – many of which had been operating below 30 percent capacity – the ban is strengthening industries, safeguarding jobs, and boosting economic resilience.

‘This policy gives us the stability we’ve long needed to plan, invest, and expand,’ said Sadiq Kassim, PRO Nigeria Agribusiness Group (NABG). ‘Before now, the unregulated export of raw nuts drove unpredictable price swings and squeezed processors out of the market. With the ban in place, raw materials are staying in-country, market prices are becoming more stable, and we can run our factories closer to full capacity. This means better income for rural women, steady demand for farmers, and a stronger foundation for Nigeria’s shea value chain.’

This direction aligns with the 30% percent Value Addition Bill, championed by the Raw Materials Research and Development Council (RMRDC) and passed by the Senate in July 2025. Now awaiting concurrence in the House of Representatives and Presidential assent, the bill mandates that no raw material of Nigerian origin be exported without at least 30 percent domestic processing.

Nnanyelugo Martin Ike-Muonso, professor and director-general of RMRDC, said: ‘Without an incentive structure to build capacity across our value chains, inefficiencies persist, prices rise, and opportunities are lost. This is why we are championing the 30 percent value addition bill before export-to protect local industries, create jobs, and put Nigeria first.’

Olaolu Ajide, a local buying agent (LBA) in Ibadan, commended the government’s decision to ban the exportation of shea nuts. He said, ‘Stopping the exportation of raw shea nuts has a positive effect on the economy. The government must enforce the ban to ensure the local industries can grow and expand the value chain to create more jobs for our people.’

The Federal Ministry of Industry, Trade and Investment is leading follow-up engagements with processors, traders, and farmer groups to ensure smooth execution. To complement this, the Presidential Food Systems Coordinating Unit (PFSCU) will support by facilitating a rapid assessment next month across the five key shea-producing states and among processors and traders.