The maiden Summit on Non-Oil Exports under the Race to $200 billion in foreign exchange (FX) repatriation (RT200) programme launched in February 2022 by the Central Bank of Nigeria (CBN), in collaboration with the Bankers’ Committee, holds in Lagos tomorrow.
Themed: “Setting the Roadmap toward Achieving RT200 and Non-Oil Export for Development,” the forum will focus on the current situation in the economy, the commitment to addressing the challenges as well as driving the development and improvement of the non-oil export sector.
A statement issued by the Director, Corporate Communications Department, CBN, Osita Nwanisobi, disclosed that the one-day summit specifically seeks to identify challenges across the non-oil export value chain from the perspectives of all stakeholder groups.
It will also provide understanding of the current situation and the implications to Nigerian citizens and the economy as a basis for urgent action.
Other objectives of the summit include understanding trends and lessons from other countries including regional and global market outlook; share best practices across the agriculture exporting value chain and guidance on how to obtain financial assistance; and to identify opportunities for improving the performance and viability of non-oil exports.
The forum will focus on the current situation in the economy, the commitment to addressing the challenges as well as driving the development and improvement of the non-oil export sector.
Also, the CBN and its partners, through the summit, seek to launch the development of a comprehensive Non-Oil Export Optimisation framework.
The summit, which is expected to extract voluntary commitments, and initiatives to support the non-oil Export Renewal Plan, will feature a keynote by the CBN Governor, Godwin Emefiele, and expert presentations and panel discussions to address Nigeria’s current non-oil export sector situation and proffer recommendations.
Participants at the summit will cut across stakeholders in the non-oil sector including the mineral resources, manufacturing and agricultural export sectors including primary agriculture players; aggregators, storage, logistics and freight transport operators; exporters; road transport agencies; security agencies, and government ministries at Federal and State levels.
Recall that the CBN and the Bankers’ Committee in February unveiled the RT200 programme, a set of plans, policies, and programmes designed to increase the nation’s earnings exclusively from non-oil exports to $200 billion in FX repatriation, within the next five years.
The RT200 initiative is designed to be implemented through five anchors: Value Adding Exports Facility (VEF); Non-Oil Commodities Expansion Facility (NCEF); Non-Oil FX Rebate Scheme (NFRS); Dedicated Non-Oil Export Terminal; and the hosting of a Bi-annual Non-Oil Export Summit.
