FG Extends N254.9bn Grant to Exporters

Minister of State for Finance, Alhaji Yerima Ngama said Thursday that a total sum of N254.96 billion had been extended as grant to export manufacturers between 2005 till date.

This, he said, was aimed at encouraging manufacturers and producers of export crops to increase their exports under the Federal Government's Export Expansion Grant (EEG) scheme which is targeted at economic diversification.

He added that the value of total non-oil export had risen to about $3.2 billion from only about $100 million in 2005 as a result of the grants.

Addressing journalists in Abuja at the end of a meeting of the Ministerial Committee on the implementation of the EEG scheme, Ngama said the scheme had been of immense assistance to manufacturers.

He said: "As at December 2005, total export of non-oil products just came to $100 million. But as at the end of 2011, total export was $3.2 billion. So if you compute, you have over 300 per cent growth in export. So it is evident that the EEG scheme has been successful."

He, said, however, that two major reviews were underway.
According to him, the first would be to categorise the manufacturers and producers of export goods in order to take the peculiarities of every sub-sector into properly consideration.

The committee is also looking into how to compensate and determine computation of the grant.
Its agreements are however, to be submitted to the Federal Executive Council (FEC) for approval.

The minister said the proposed review was base on the "Realisation that the scheme has been successful and our manufacturers and producers of export goods have performed so well that even the threshold that we put for them before you become elligible to benefit. They've met all these thresholds and therefore, they want the standards to be enhanced.
"You know when somebody is doing well, you have to lift the standard and one thing we have agreed here is to actually move this threshold in order to move the minimum acceptable threshold higher and they have assured us that they are going to meet it and even beat it. And I think we have to congratulate them for what they have done and even shifting the goal post because they want to do more."

But the minister declined to reveal what the current threshold is and what was being proposed.
"The performance has been so well to the extent that we have agreed to move the goal post because they think whatever you say they should do, they can even do more."

He said: "The Nigerian economy needs to be diversified and the good news is that the transformation agenda of government of President Goodluck Jonathan is working and the evidence is the decision we reach today."
The ministerial committee is currently the highest policy making body as far as managing the EEG scheme is concerned-and it reports directly to president through the FEC.

http://www.thisdaylive.com/articles/fg-extends-n254-9bn-grant-to-exporters/134199/?utm_source=dlvr.it&utm_medium=twitter

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Transforming Air Cargo Business Through Enhanced Airports’ Operations

In an attempt to boost cargo business and export in Nigeria, Stella Oduah, Aviation minister, said recently that along with remodelling and building of airport terminals, the ministry would secure N106 billion from the Chinese bank to build about 11 Cargo/Perishable materials terminals, with six of them to be sited at airports in the North.

Her plans, according to Yakubu Datti, general manager, public affairs of Federal Airports Authority of Nigeria (FAAN), is to make Nigeria a leading exporter of agricultural produce, through the nation’s airports, in line with government’s transformation agenda for the aviation industry.

He said the authority has commenced the repositioning of cargo business in line with its statutory function of engaging in economic activities that impact positively on the growth of air transport in Nigeria as part of the ongoing restructuring of the aviation sector.

According to him, “the present cargo traffic figure for year 2011 at the Murtala Muhammed International Airport stands at about 171.6million metric tons per annum, whereas Manchester Cargo Airport in the UK handles about same number at around 170million metric tons cargo annually. The airport is already targeting about 250million metric tons by year 2015 according to information from the MCA websites. The present strategy by FAAN will give room for the expansion of cargo traffic figure to about double by 2015.

“By the time this project is realised, FAAN would have become a major player in the cargo business comparable to international airports as Schiphol Airport, Amsterdam, Frankfurt Airport in Germany and London’s Heathrow Airport”, he said.

Datti noted that among the strategies adopted in fulfilling this objective is the elevation of the sector to a full scale directorate.

According to him, “by this development, the new directorate will spearhead the development of the cargo business which has been under-explored over the years, even though the potentials are enormous.”

The new cargo directorate will be responsible for generating a blueprint for turning the cargo business to a profitable venture as it is done globally. The directorate will also be responsible for implementing changes and monitoring the application of relevant resources to achieve result.

He said the new initiative will involve the building of massive terminals which will have several perishable cargo warehouses and other cargo infrastructure; will help to boost the economy of the country in terms of speedy turn around and safe delivery of goods and services.

Although, the volume of Cargo export is still very low compared to import level as the country  is yet to fully develop that aspect of business, however, FAAN, says it targets over 343.2 million metric tons of cargo traffic through the Murtala Muhammed International Airport by 2015 as it begins to develop the business for positive impact on air transportation.

Rowland Ofulue, director, Cargo Development, FAAN, at an interactive session with the representatives of international cargo airlines and members of the Association of Foreign  Airlines’ Representatives recently said  the creation of a new directorate of cargo development in FAAN was among several strategies adopted by the Federal Government to steer the nation from being an oil and gas dependent economy to a multi-pronged economy that will create more jobs for Nigerians.

He said that the new directorate was poised to create an enabling environment that will boost cargo development at major Nigerian airports, where more emphasis had been laid on passenger movements and other related businesses.

Ofulue informed the group that the Federal Government had concluded plans to build new cargo terminals in twelve airports across the country and invited them to take advantage of this huge investment to contribute to the growth of the country’s economy, through increased air cargo operation.

He also said that an agro-allied economy can evolve from the development of the cargo terminals being planned nationwide, adding that a lot of perishable food items that are produced in this country could be exported through the airports as it is done in neighbouring countries that rely solely on such exports for the sustenance of their economies.

http://www.businessdayonline.com/NG/index.php/aviation/49272-transforming-air-cargo-business-through-enhanced-airports-operations

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