Nigeria’s Non-oil Exports Earnings Increased To $5.6bn In 2022 – Emefiele

THE Central Bank of Nigeria has said the country’s non-oil export earnings increased by 40 per cent to $5.6 billion at the end of 2022 from $3 billion in 2021.

The CBN Governor, Godwin Emefiele, disclosed this at Lagos’s third Bi-Annual Non-Oil Export Summit.

In his explanation on the “RT200: Challenges and Prospects to Success”, Emefiele said that the programme had achieved tremendous success for the country’s economy.

He noted that the focus on non-oil export aligns with Nigeria’s goal to move away from an oil-based economy.

The RT200FX programme was introduced on February 10 2022, to stimulate non-oil exports with a $200 billion FX income target in the next three to five years.

“Available data shows that repatriation due to the programme increased by 40% from $3 billion in 2021 to $5.6 billion at the end of 2022”, he said.