Government targets N394bn from non-oil exports

ayodele johnson

January 21, 2016 11:54 PM

Statistics showed that credit to the non-oil export sector had reduced over the last five years

The Federal Government has made a goal of $2bn (N394bn) as non-oil export earnings in the 2016 fiscal period.

The Managing Director, Nigerian Export-Import Bank, Mr. Robert Orya, made this known in Abuja in an interview with Punch at a conference.

The conference, organised by the Central Bank of Nigeria (CBN) in partnership with NEXIM, had as its theme: ‘Strategies for growing Nigeria’s non-oil exports’.

READ: Income crisis hardens as oil hits $28

Statistics showed that credit to the non-oil export sector had reduced over the last five years, with the sector getting about 0.6 per cent of the total domestic credit to the economy.

Orya commented that through the help of the Central Bank of Nigeria, the citizens would soon see a change in the number of number of non-oil exports leaving Nigeria for other countries.

This falls in line with the government’s ambition to reduce reliance on oil export to sustain the economy.

ayodele johnson