Fed Govt Releases N309bn Grant To Exporting Corporations

Chief Executive Officer, NEPC, Dr Ezra Yakusak — Chief Govt Officer, NEPC, Dr Ezra Yakusak

The Federal Authorities has accredited the disbursement of N308, 458, 160, 546.41 price of promissory notes to 199 exporting firms.

Based on a press release signed by the Head, Company Communications, Nigerian Export Promotion Council (NEPC) Ndubueze Okeke, the disbursement come below the Export Enlargement Grant scheme.

The Govt Director/CEO of NEPC, Dr. Ezra Yakusak, whereas issuing letters to some beneficiaries of the scheme in Abuja disclosed the approval and recommended the Federal Authorities and the Nationwide Meeting for approving the cost of the excellent claims to the beneficiaries.

It was gathered that the sum of N193, 456, 239, 386.40 was accredited for 133 beneficiaries of the scheme in respect of EEG excellent claims for the interval of 2017 to 2020 whereas the sum of N108, 317, 269, 008.76 was accredited for 35 beneficiaries in respect of EEG backlogs of claims for the interval of 2007 to 2016 respectively.

Additionally, the sum of N68, 389, 000 was accredited for 13 beneficiaries in respect of shares of excellent Negotiable Responsibility Credit score Certificates.

Moreover, the sum of N6, 617, 781, 151.25 was accredited for 69 beneficiaries in respect of quick fall within the accredited claims by the eighth Nationwide Meeting.

Nevertheless, the council remains to be awaiting the approval and launch of the sum of N60,635,088,940.63 being the EEG claims for 34 beneficiary firms from the Nationwide Meeting.

The EEG is a post-shipment scheme focused at stimulating improve within the quantity and worth of Made-in-Nigerian merchandise within the worldwide market. The scheme can be supposed to encourage export of value-added merchandise as towards uncooked agricultural commodities.