199 Exporters to Benefit from N308.45bn Export Expansion Grant
No fewer than 199 companies under the Export Expansion Grant (EEG) Scheme. are to benefit from the N308.45 billion approved the disbursement by the Nigerian Export Promotion Council (NEPC).
The Executive Director/Chief Executive, NEPC, Dr. Ezra Yakusak, disclosed this while issuing letters to some of the beneficiaries.
Yakusak said the sum of N193.45 billion was approved for 133 beneficiaries between 2017 and 2020 and another N108.31 billion approved for 35 beneficiaries between 2007 to 2016 .
Commending the National Assembly for approving the outstanding payment of the claims, he also disclosed that the sum of N68.38 million was approved for 13 beneficiaries as a result of stocks of outstanding Negotiable Duty Credit Certificates (NDCC).
In a statement from the Head, Corporate Communications, NEPC, Ndubueze Okeke, the Executive Director also added that the sum of N6.61 billion was approved for 69 beneficiaries by the 8th National Assembly.
He also said that the National Assembly was awaiting the approval and release of of N60.63 billion for 34 exporting companies.
The EEG is intended to encourage the export of value-added products as against raw agricultural commodities.