The Central Bank of Nigeria has disbursed a cumulative sum of N2.10tn to 426 projects under its Real Sector Support Facility.
“Our records show that the initiative has started yielding the expected results as importers and exporters have been taking advantage of the payment of incentives of N65 for every US$1 repatriated and sold at the I& E Window to authorized dealer banks for other third-parties’ use and N35 for every US$1 repatriated by exporter for own use on eligible transactions,” he disclosed.
Total exports in 2021 was $45bn but only $10bn was non-crude, according to the National Bureau of Statistics’ Foreign Trade Statistics. “The PAVE concept aims to make Nigerians consume what they produce, add value to such products and export the surpluses,” he said.
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