This study examines the gender, cultural, social and religious dimensions of shea economy in Nigeria and determine how they aid in income and welfare. The study was conducted in Nigeria which is in Western Africa. Multi-stage sampling procedure was employed in sampling the location and the collection of primary data for this study. The study involved selected states in the shea belt of Nigeria between December 2020 and April 2021. A total of 305 pickers, 204 processors and 102 traders giving a total of 611 respondents for the study. Data for this study were collected using interview schedules with the aid of trained enumerators. The data were analysed using descriptive statistics, exploratory and confirmatory factor analysis using structural equation modelling (SEM). The results revealed that overwhelming majority of the actors involved in shea business were female married actors (92%), most of whom were Muslims (60%) with 35% Christians. Also, the females have more ownership and control than their male counterpart, but the ownership is community-based (52.34%) with a mean income of N2,514,190.30. Traders are the highest income earners, but the pickers are more in number. SEM indicated that there is inter-relationship between shea tree ownership as a common resource and other latent variables which could be tapped by every member in the community with some form of community consent systems and the proceeds or income generated from the shea business is shared based on consent hierarchy. It was recommended that women should be given full access and right by the community to gather shea nuts regardless of their marital status and without seeking permission from any member of the community. The sharing of the proceeds or income generated from shea business should be based on level of participation and not the hierarchical consent system.