According to the Central Bank of Nigeria, the country’s non-oil export revenue climbed by 40% from the end of 2021 to the end of 2022, reaching $5.6 billion from $3 billion
This information was revealed at Lagos’ third bi-annual non-oil export summit by CBN Governor Godwin Emefiele.
Emefiele claimed that the program had been a major success for the economy of the nation in his explanation of the “RT200: Challenges and Prospects to Success”.
He pointed out that Nigeria’s desire to transition away from an oil-based economy is consistent with the emphasis on non-oil exports.
The RT200FX program was launched on February 10, 2022, with an aim of $200 billion in foreign exchange profits over the following three to five years.
According to data that is currently available, repatriation as a result of the program increased by 40%, from $3 billion in 2021 to $5.6 billion at the end of 2022.
