*The Central Bank of Nigeria says the summit seeks to identify challenges across the non-oil export value chain from the perspectives of all stakeholder groups and provide understanding of the current situation, implications to Nigerian consumers and the economy as a basis for urgent action

Gbenga Kayode | 绿帽献妻

The first Summit on Non-Oil Exports under the US$200billion package in Foreign Exchange (FX) Repatriation (RT200) programme holds Thursday, June 16, 2022, in Lagos.

The Central Bank of Nigeria (CBN) in collaboration with the Bankers鈥� Committee, inaugurated the the FX Repatriation RT 200 monetary initiative within the nest five years February 2022.

绿帽献妻 reports the CBN said programme with the theme, 鈥淪etting the Roadmap toward Achieving RT200 and Non-Oil Export for Development鈥� would 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.

Mr. Osita Nwanisobi, Director of Corporate Communications Department at CBN, in a statement issued Tuesday, June 14, 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 as well as provide understanding of the current situation and the implications to Nigerian citizens and the economy as a basis for urgent action.

The Bankers鈥� Bank also enumerated other objectives of the summit to 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 statement as well noted the CBN and its partners, through the conference, seek to launch the development of a comprehensive Non-Oil Export Optimisation framework.

The summit expected to extract voluntary commitments, and initiatives to support the non-oil Export Renewal Plan, will feature a keynote by Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria, as well as expert presentations and panel discussions to address the country鈥檚 current non-oil export sector situation and proffer recommendations.

According to Nwanisobi, participants in the summit will cut across stakeholders in the non-oil sector including but not limited to 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.

It is recalled the RT200 initiative is designed to be implemented through five anchors, including 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.