FG Moves to Clear ₦330bn Export Grant Backlog, Restructure Expansion Scheme

The Nigerian government is taking action to clear a backlog of ₦330.08 billion in Export Expansion Grant (EEG) obligations while restructuring the scheme to make it more predictable, transparent, and financially sustainable. The Federal Ministry of Industry, Trade and Investment (FMITI) has launched a stakeholder engagement in Abuja to address verified legacy claims and restructure the scheme around a sustainable funding framework.

The outstanding obligations include ₦269.45 billion in verified claims from 195 beneficiary companies, approved under a Promissory Note Programme in May 2023, and ₦60.64 billion in stepped-down claims from 32 companies for the 2017–2020 period. Government agencies, including the Federal Ministry of Finance, Debt Management Office, Office of the Accountant-General of the Federation, Central Bank of Nigeria, and the Nigerian Export Promotion Council, are working together to reconcile and process the obligations.

The government aims to restore confidence in the export incentive system and ensure that only verified claims are settled. Additionally, President Bola Tinubu has approved a new funding architecture, with 40% of monthly Nigerian Export Supervision Scheme collections ring-fenced for export-incentive interventions through a Trade Facilitation Fund.

An EEG Restructuring Working Group will produce a proposed structure for the reformed scheme within 60 days. The reform will focus on rewarding genuine export performance, encouraging domestic value addition, and diversifying Nigeria's non-oil export base. Technology will play a crucial role in the reform, particularly in strengthening data management, claims verification, and transparency.