The Export Expansion Grant is a federal government initiative aimed at encouraging exporters especially those that add value to their products. The grant ranges from 5-30% of the FOB value of the item exported, depending on the degree of processing the item went through in Nigeria before exportation.
The EEG Scheme is processed in Nigeria Export Promoting Council (NEPC) and administered in conjunction with the Implementation Committee inaugurated by the government. The EEG is issued in form of a Negotiable Duty Credit Certificate (NDCC). This is sold as a Discounted instrument to Importer who then use it to pay their import duties.
The Implementation Committee inaugurated by the federal government to process the EEG include the
following;
(1) Nigeria Export Promotion Council (NEPC)
(2) Federal Ministry of Finance (FMF)
(3) Nigeria Customs Service (NCS)
(4) Central Bank of Nigeria (CBN)
(5) Federal Ministry of Commerce and Industry
(6) Special Adviser to the President (Manufacturers and Private Sector.).
Who benefits from export expansion grants in the case of agriculture? Farmers or big multi-national exporters like Olam?
ReplyDeleteExport Expansion Grant is only given to the exporters and not the farmer The documentations required for processing it can only be obtained after exportation, so farmer that do not export cannot access the grant.
ReplyDeleteWhat is the status of EEG processing for the year 2009 ?
ReplyDelete