NEPC: EEG scheme, others incentives needed for growth of export in Nigeria

Nigerian Export Promotion Council (NEPC), Executive Director/CEO Dr. Ezra Yakusak has reiterated the significant impact of export incentives such as Export Expansion Grant, EEG, and others in keeping exporting companies in business. Dr. Ezra said this while receiving a delegation of the Manufacturers Association of Nigeria Export Group (MANEG) led by its Chairman, Chief Ede Dafinone in Abuja. According to him “Without the Export Expansion Grant (EEG) Scheme, a lot of companies would have gone moribund. These incentives such as the Export Development Fund (EDF) among others have, over the years, helped to keep exporting companies afloat particularly Small and Medium Entrepreneurs” (SMEs).  

On the creative industry, Dr. Ezra opined that the promotion of the creative industry with particularly emphasis on music and movies (Nollywood) is indeed desirable given the impact of Nigerian music and films in the international market as well as the positive image it generates for the country. Responding, Chief Dafinone requested the support of the Council in retooling the process of payment of the EEG scheme by monthly instalments in order to reduce delay in processing and payment of EEG claims to beneficiaries. This, he noted will ensure that the value of the claims are not eroded. On NEXPORTRADE, the MANEG Chairman explained that the concept for the establishment of NEXPORTRADE Houses Limited (NHL) was conceived by the Council in collaboration with (MANEG) and some other stakeholders both from the Public and the Organised Private Sector (OPS) with the objective of having Lome as the a pilot project. 

Chief Dafinone expressed optimism that NHL which is aimed at supporting SME exporters to enhance the visibility of their products and reduce cost of logistics which is believed to be a major challenge in exporting within the ECOWAS sub-region and the African market as a whole will commence operations in Lome, Togo by end of February this year with the first shipment of Nigerian goods expected to arrive Lome in March.