FG Flags off N50bn Export Expansion Programme

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*Exporters urged to register online for grants
The Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, Tuesday flagged off the much talked about N50 billion export expansion facility programme (EEFP) in the country.
Adebayo who spoke during the inauguration explained that the programme is part of the N2.3 trillion Nigeria economic sustainability plan.
He said that the plan is part of the effots to cushion the effect of the Covid-19 pandemic on non-oil export sector, adding that this has the capacity to safeguard and create job opportunities in the country.
The inauguration included the unveiling an online grant management portal for non-oil exports, adding that this will assist in processing of applications for the Export Development Fund (EDF).
He said with this, exporters can register for grants from the federal government through the portal, explaining that it was to assist companies into export trade.

The Minister said, “The ultimate aim of the export expansion facility programme as an intervention following the devastating economic effects of Covid-19 to exporters and MSMEs in Nigeria will be to save jobs, create jobs, support resilience in shoring up foreign exchange, diversification, modernisation of Nigeria’s economy and acceleration of economic growth and economic support” .

The Executive Secretary of the Nigeria Export Promotion Council (NEPC), Dr. Olusegun Awolowo, in his speech said the initiative was to assist exporters recover losses incurred as a result of the coronavirus pandemic.


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