CBN Paid Exporters N81Bn To Boost Non-oil Revenue Generation – Emefiele Reveals

Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, said an N81 billion rebate was paid to hardworking Nigerian exporters to boost the non-oil revenue generation of the country.

Emefiele made this disclosure during the BI-annual RT- 200 Non-Export Summit held in Lagos, monitored by NAIJALOADED on Tuesday.

The apex bank Governor called for a collaboration with the federal ministry of trade and investment to improve the gains in Nigeria’s export sector.

Emefiele urged Nigerian exporters to continue to improve their products’ quality to benefit from the CBN export scheme.

He stated that Non-oil export is a more sustainable means of increasing financial flows into the Nigerian economy and spurring rapid growth.

“Also, the Central of Nigeria, CBN paid out about N81 billion naira in rebates to hardworking Nigerian exporters. You could see the N21 billion paid in two quarters.

“We would like to collaborate with the Ministry of Trade and Investment to see how to improve the sector so that exporters will be encouraged to do more and earn rebates.

“This N81 billion we have paid so far is a testament to the resolve of the CBN to ensure quick acceleration of the export value chain in the CountryCountry.

“I know there have been calls to make all exporters or all export products eligible for this rebate and not limit it to finished and semi-finished products.

While we see the justification for this call, however, one of the goals of the RT-200 programme is to help quicken the process of industrialization and encourage exporters”,