Export Expansion Grant: Why many companies would have gone moribund – NEPC

The Executive Director/CEO of Nigerian Export Promotion Council (NEPC) Dr. Ezra Yakusak has explained that without the Export Expansion Grant (EEG) Scheme, a lot of companies would have gone moribund.

He said these incentives such as the Export Development Fund (EDF) among others have, over the years, helped to keep exporting companies afloat particularly Small and Medium Entrepreneurs (SMEs).

Dr. Ezra disclosed this while receiving in his office a delegation of the Manufacturers Association of Nigeria Export Group (MANEG) led by its Chairman, Chief Ede Dafinone in Abuja reiterated the significant impact of Export Incentives in keeping exporting companies in business.

On the creative industry, Dr. Ezra in a press statement issued by the Head, Corporate Communications, Ndubueze Okeke opined that the promotion of the creative industry with particularly emphasis on music and movies (Nollywood) is indeed desirable given the impact of Nigerian music and films in the international market as well as the positive image it generates for the country.

Responding, Chief Dafinone requested the support of the Council in retooling the process of payment of the EEG scheme by monthly installments in order to reduce delay in processing and payment of EEG claims to beneficiaries. This, he noted will ensure that the value of the claims are not eroded.