Public Management

Nigeria targets $4bln in non-oil export revenues next year

Nigeria targets $4bln in non-oil export revenues next year
Tuesday, 03 December 2019 17:04

The Central Bank of Nigeria will intensify its policy measures to reach $4 billion in non-oil revenues next year, Governor Godwin Emefiele (pictured) announced last weekend. This is double the non-oil export revenue achieved this year ($2 billion).

According to him, the target aligns with the government’s strategy to protect the Nigerian economy from global “macroeconomic headwinds” since the country is particularly exposed to economic fluctuations in the world market due to its excessive dependence on oil, its main export product.

“We intend to address some of the barriers faced by non-oil exporters in producing goods for the export market. Working with the Nigerian Export-Import Bank, we will improve access to the N500 billion facility designed to support the growth of Nigeria's non-oil exports. Part of our emphasis will be on increasing export of value-added goods relative to raw materials,” the governor said.

Last February, the government announced its “Made in Nigeria for Exports” program that aims to generate $30 billion a year from the export of Made in Nigeria products.

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Côte d’Ivoire will receive $234 million for a sustainable urban mobility project in Abidjan. Gambia will receive $32.2 million to build...
Stanbic IBTC and Zenith Bank cut monthly card spending abroad to $500 and $200 Foreign reserves fall by $3.5 billion in six...
Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 million in transactions by end-2025. The fintech...
• Kenya and ASR sign deal to reduce risk on projects worth up to $2 billion.• Risk cover will target infrastructure, energy, logistics, and trade...
Most Read
01

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
02

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
03

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
04

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
05

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.