Industry experts observe that Nigeria have 57 per cent of the world's Shea Butter reserve which is highly underutilized. According to them, the Shea Butter Industry in Nigeria is worth over $2bn (N772Bn) stating that if the value chain is well harnessed could employ millions of people.
The disclosure was made in Lagos during a Press Conference preceding the Beauty Business Week in Lagos organized by World PR in partnership with Mercedes Benz. Shea Butter is an Ivory - coloured fat extracted from a Shea Tree which is used in homemade beauty products like lotions, lotion bars, among other skin care products.
The Chief Executive Officer of World PR, Mrs. Tayo Afolabi said that Shea Butter industry in Nigeria is estimated to be worth over $2bn. The country has 57 per cent of the world Shea Butter but it is underutilized.
The experts said that Ghana and other West African countries come to Nigeria to take her Shea Butter having realized its economic impact, saying it is high time Nigeria key into the potential in Shea butter.
