Nasarawa State Governor, Abdullahi A. Sule

The Federal Government, on Thursday, celebrated its non-oil export commodities earnings which, it said, rose from U$1.17billion in 2016 to US$3.16billion in 2018.

Among its major export crops, cocoa accounted for $79.4 million in 2017 while sesame exports increased by $153 million since 2016, indicating an increase of more than 100 percent.

At the National Economic Council (NEC) meeting, it was resolved that the non-oil export sector remained a last line of defence for the Nigerian economy.

Nasarawa State governor, Abdullahi Sule, who read out some of their resolutions, said the plan, as envisioned by the Nigerian Export Promotion Council, was expected to boost Nigeria’s foreign reserves cumulatively over the next ten years to the tune of $150billion.

He said the sector had a prospect of creating 500,000 jobs annually, and may help lift 20 million Nigerians out of the poverty circle.

Sule explained that state Export Development Fund had also been created through N50billion debenture, to be disbursed by NEXIM, in which the Central Bank of Nigeria (CBN) had invested.

He noted that the Fund offered long –term loans at single digit interest rate to qualifying export-oriented projects under the State Export Development Programme and the Anchor Exporter Scheme.

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