FG moves to clear N330bn export grant backlog, restructure scheme
The Federal Government has begun fresh efforts to clear a N330bn backlog of outstanding claims under the Export Expansion Grant (EEG) scheme. Read More: https://punchng.com/fg-moves-to-clear-n330bn-export-grant-backlog-restructure-scheme/
The Federal Government of Nigeria is taking steps to clear a N330bn export grant backlog and restructure the Export Expansion Grant (EEG) scheme, according to sources. The Nigerian Export Promotion Council (NEPC) is leading this effort in coordination with the Manufacturers Association of Nigeria Export Group and other stakeholders, following a directive from the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole.
The NEPC's CEO, Nonye Ayeni, revealed this at a stakeholder engagement in Abuja, emphasizing the importance of restoring confidence in the incentive framework as the government focuses on non-oil exports and economic diversification. The outstanding obligations include verified claims from 2017-2020 and 2021-2022, as well as previous approved claims under the Promissory Note mechanism.
The government aims to settle legitimate claims while ensuring transparency and efficiency in the scheme.
Brief written by urgent.news from Punch's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
