CBN moves to revamp export market

BY EMEKA EJERE  

There is a serious plan for the governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, to meet with the Chief Executives of multinational companies in Nigeria to discuss the revamp of Nigerian export markets.

Mr. Emefiele, who dropped the hint on Tuesday during the meeting of the Bankers’ Committee, noted that the CBN is ready to encourage the revamp of Nigeria’s export sector through deliberate policies that would boost investment and job creation.

The apex bank boss, while decrying the situation where many Nigerian produce of export quality were waiting to be tapped, said the CBN, in collaboration with the Federal Ministry of Industry, Trade and Investment, would ensure the facilitation of a reboot of the Nigerian export market.

Emefiele reiterated that the country had no choice but to diversify its economic base away from heavy reliance on crude oil, so that Nigerians can produce what they eat and eat what they produce

Although the date of the meeting is yet to be disclosed, it is expected to come up with a roadmap on how best to revitalize the export sector in order to earn foreign exchange for the country, as well as generate jobs for millions of Nigerians.