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CBN, Bankers’ C’ttee Unveil New Measure For $200bn Non-oil Export Revenue

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The Central Bank of Nigeria (CBN) in conjunction with the committee of all deposit money banks have announced a new programme tagged: “RT200 FX Programme” that is designed to ensure that Nigeria gets $200 billion from non-oil export annually.

The RT200 FX programme is a set of policies, plans and programmes for non-oil exports that will enable the country attain its lofty yet attainable goal of $200 billion in forex repatriation, exclusively from non-oil exports, over the next three to five years.

Emefiele said the measure became important due to the fact that export of primary unprocessed commodities does not yield much in foreign exchange.

“In order to avoid these sudden adjustments to our economic life, we need to focus on strategies that can help us earn more stable and sustainable inflows of foreign exchange,” Emefiele said at a media briefing in Abuja on Thursday.

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