00:00I think this group was
00:26activated by
00:28largely by
00:30the addition of
00:32agricultural commodities to
00:34our export regime.
00:36Products such as
00:38cocoa,
00:40sesame seeds,
00:42soybeans,
00:44you know, and then improved
00:46processing of these commodities
00:48also added to
00:50the value chain.
00:52We have to understand that this
00:58is a great significant
01:00push for Nigeria, saying that
01:02we're also moving away significantly
01:04from oil exports,
01:06which has remained for a long time the most
01:10significant of a revenue source.
01:12So I would say that
01:14from a macroeconomic point of view
01:16this is good news.
01:18It's worth celebrating, but it also
01:20calls for, it calls
01:22significantly for deep thinking to see
01:24how we're going to make
01:26greater progress. Is this the best that we can do?
01:28If you see over the last few months,
01:36the rate has been quite stable.
01:38And so I believe that, yes,
01:40the export of goods and services
01:42have contributed to
01:44balancing our FX situation in Nigeria.
01:46And I believe that
01:48we can do more. I believe
01:50because I understand that
01:52even when we look at the services that
01:54we have been rendering, especially many people
01:56here in Nigeria rendering services abroad
01:58would say that we have not even scratched
02:00the surface if I say that.
02:02And so I believe that there is
02:04a lot that we can do to still contribute
02:06more to our FX position.
02:08But yes, this figure is good
02:10and it contributes significantly to
02:12easing of the pressure on FX
02:14demand.
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