Nigeria's President Bola Ahmed Tinubu has announced a six-month suspension on raw shea exports to boost local processing, job creation, and protect the shea value chain, predominantly benefiting women. This move aims to increase Nigeria's share in the $6.5 billion global shea market, currently capturing less than 1% despite producing nearly 40% of the world's supply. The initiative is part of the Renewed Hope Agenda, focusing on creating value domestically and competing globally. Vice President Kashim Shettima will lead efforts to expand processing capacity and ensure the reform brings lasting prosperity to farmers, women, and the nation.
π’ Apple's iPhone 16 Sales Blocked in Indonesia
π’ Apple's iPhone 16 is banned from sale in Indonesia for not meeting the requirement of at least 40% locally sourced components. The Industry Ministry stated that Apple has not fulfilled its investment commitments for local content certification.
π’ Consumers can still import the phone for personal use by paying applicable taxes. To expand in the region, Apple may need to partner with local firms to comply with regulations.