Business • Created February 1, 2022 04:09

FG spends N40bn on export expansion programme

The federal government has so far spent N40billion on the Export Expansion Facility Programme (EEFP), which was launched 12 months ago. This was disclosed by the Nigerian Export Promotion Council (NEPC) at the NEPC-EEFP stakeholder interactive session in Abuja on Monday. NEPC Executive Director and Chief Executive Officer, Dr Ezra Yakusak, the EEFP aims to […]

FG spends N40bn on export expansion programme
FG spends N40bn on export expansion programme

The federal government has so far spent N40billion on the Export Expansion Facility Programme (EEFP), which was launched 12 months ago.

This was disclosed by the Nigerian Export Promotion Council (NEPC) at the NEPC-EEFP stakeholder interactive session in Abuja on Monday.

NEPC Executive Director and Chief Executive Officer, Dr Ezra Yakusak, the EEFP aims to protect export businesses from the effects of the COVID-19 pandemic, safeguard jobs and de-risk the economy from shock.

Yakusak said its primary goal is to increase Nigeria’s export capacity in the near term and its export volumes in the medium term.

The NEPC boss said 281 Nigerian companies had already benefited from the fund through COVID grant relief.

Yakusak said another 1105 companies also benefited through Export Development Fund (EDF) while 84 women-owned businesses also benefited from the grant.

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