Tuesday, 20 November 2018

FG resuscitates export grant with N13.2bn – Udoma

The Minister of Budget and National Planning, Senator Udoma Udoma, has said the Federal Government has reactivated the Export Expansion Grant (EEG) with the sum of N13.28bn to galvanize exports of locally produced goods.
According to him, the said amount was captured in the 2018 budget currently being implemented by the Federal Government.
The EEG, established through the Export Incentives and Miscellaneous Provisions Act of 1986 is an initiative of the Federal Government designed to support the exporters of non-oil products, including agro-commodities in order to cushion the effects of infrastructural deficiencies and reduce the overall unit cost of production.
The programme had been suspended in 2013, due to perceived abuse by beneficiaries in claiming the grants.

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