FG targets $2b non-oil export earnings in 2016

TVC E, BUSINESS – The Federal Government is targeting a fresh N394 billion, which is about $2 billion as non-oil export earnings in the current fiscal year.

Managing Director, the Nigerian Export-Import Bank, Robert Orya said the country has not fully explored the potentials of the sector.

Orya added that commercial banks need to increase lending to non-oil exporters to boost foreign exchange earnings.

Available statistics show that credit to the non-oil export sector has been declining in the last five years, with the sector getting just about 0.6 per cent of the total domestic credit to the economy.