According to the Central Bank of Nigeria, non-oil export proceeds returned to Nigeria increased significantly from $3. 1 billion in 2021 to $4.987 billion in 2022.
The bank added that it gave N81 billion in rebates to non-oil exporters in the nation in an effort to diversify the country’s foreign exchange revenue generation.
Godwin Emefiele, the Governor of the CBN, revealed this in Lagos at the second RT200 Bi-Annual Conference, with the theme “RT200 Non-Oil Export Program: The Journey So Far.”
Only $1.96 billion of the $4.987 billion, according to Emefiele, qualified for the rebate program. He pointed out that the recovery exemplified the apex bank’s determination to hasten the acceleration of the nation’s export value chain.