FG kicks off N50b export expansion facility programme

Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, has officially kicked- off the Federal Government’s N50 billion Export Expansion Facility Programme (EEFP) and launched the first online Grant Management Portal for non-oil exports.

He was joined at the ceremony in Abuja by the Minister of State, Ministry of Industry Trade and Investment, Mrs. Mariam Yalwaji Katagum; Chairman, of the NEPC Governing Board, Senator Ibrahim Musa; members of the Export Expansion Facility Steering Committee, and of the Export Development Fund Board of Trustees as well as the NEPC Governing Board Chairman, Senator Musa Ibrahim. Their host was the Executive Director /CEO, of the Nigerian Export Promotion Council (NEPC) Mr Olusegun Awolowo.

The EEFP is part of the Federal Government’s N2.3 trillion fund of the Nigeria Economic Sustainability Plan. The EEFP focuses on cushioning the effects of the COVID-19 pandemic on non-oil export businesses thereby safeguarding jobs and creating new jobs.

The EEFP’s primary goal is to increase Nigeria’s export capacity in the near term and export volumes in the medium term.

During his keynote address, the Minister of Industry Trade and Investment, Otunba Niyi Adebayo who Chairs the 11-Man Steering Committee implementing the EEFP 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, modernization of Nigeria’s economy and acceleration of economic growth and economic support”.

The Executive Director/ CEO of the Nigeria Export Promotion Council (NEPC) & Secretary of the SteerCo. Olusegun Awolowo in his Welcome Address highlighted focus areas of the EEFP. He said,

“As we launch the EDF, we will apply the use of technology through the Grant Management Portal which ‘Goes live’ today so that we will be equalizing opportunities to achieve inclusive economic growth through non-oil exports. The Export Development Fund is a pre-shipment incentive stipulated in the NEPC Act, which due to lack of funds was never activated. We were however overjoyed by the provision of the Export Expansion Facility which provided the opportunity for us to finally activate the Fund for our teeming SME exporting companies, who over the years have been unable to access the active Export Expansion Grant, which is a post-shipment incentive. We are confident that through this Facility, we will Save Jobs and Create jobs as we work towards moving us from #Pandemic2Prosperity.”

The first on-line Grant Management Portal for non-oil exports in Nigeria is supported by the EEFP and all applications for the Export Development Fund (EDF) will be processed through the System.

The portal will be for exporters to register for grants as direct intervention from the Federal government with the objective of providing financial assistance to exporting companies to cover part of their initial expenses with respect to export promotion activities.

The Governor of Jigawa State and Chairman NEC National Committee on Export Promotion, Mohammed Badaru Abubakar welcomed the successful launch of the EDF calling it ‘long awaited’ and congratulated the Federal Government for the emphasis on non-oil exports.

Speaking at the event, the Honourable Minister of State, Amb. Mariam Yalwaji Katagun said we are confident the Export Expansion track will go on to impact the export-related small businesses even more.

We must ensure that small businesses within the export-related sector benefit from the scheme in great numbers as this is the core objective of Mr. President’s approval of the scheme.

Mr Segun Ajayi Kadiri, maintained that the provision of funds for the takeoff of the EDF, as provided in the EEFP, could not have come at a better time.

The Export Development Fund would serve to complement the other areas that were not covered by the MSME Survival Fund, for export-oriented companies.

A successful LIVE demonstration of nominated SME’s registering on the Grant Management System was witnessed by the audience.

In the Vote of thanks Mr. Nnamdi Okonkwo, Vice Chairman of the EEFP Steering Committee said the EEFP Grant Management System is a commendable demonstration of the public sector being proactive in using technology positively for the programme governance and results. Stressing that the EEFP would greatly benefit the non-oil export sector.

The Honourable Minister encouraged the media to publicize the official hashtags of the EEFP#Pandemic2prosperity and #SavejobsCreateJobs