By Felix Khanoba
The Nigerian Export Promotion Council (NEPC) has commenced moves with the Federal Government and other stakeholders to resolve about N330.08 billion in outstanding claims under the Export Expansion Grant while working towards a new framework for export incentives.
The initiative is aimed at addressing longstanding liabilities owed to exporters and creating a more transparent and performance-based system for future interventions.
The Executive Director of the NEPC, Mrs Nonye Ayeni, disclosed this on Thursday in Abuja at a stakeholder engagement on the EEG scheme organised by the council.
Ayeni said the engagement was convened to address unresolved issues surrounding the scheme and develop practical measures that would improve certainty for exporters.
“Today’s engagement therefore comes at an important moment. We recognise that there are outstanding liabilities and claims requiring attention, and we also recognise the need to establish a framework that will provide greater clarity, efficiency and confidence for exporters going forward,” she said.
Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, who also addressed the gathering, said the Federal Government had commenced steps to settle verified and approved claims while restructuring the scheme to make it more sustainable.
According to Oduwole, the Federal Executive Council approved in May 2023 a Promissory Note Programme covering about N269.45 billion in verified EEG claims involving 195 beneficiary companies.
She added that additional stepped-down claims of approximately N60.64 billion involving 32 companies for the 2017–2020 period had also been identified, bringing the outstanding claims to about N330.08 billion.
“The Federal Government is committed to progressing the settlement of duly verified, validated and approved claims through the applicable processes,” the minister said.
Oduwole said the government was working with the NEPC, Federal Ministry of Finance, Debt Management Office, Office of the Accountant-General of the Federation, Central Bank of Nigeria and the National Assembly to reconcile and process the outstanding obligations.
She explained that clearing the backlog would help address historical liabilities while also rebuilding exporters’ confidence in government’s incentive system.
“We recognise that delays in settling outstanding claims have had real consequences for exporters, affecting liquidity, investment decisions, business planning and the ability of companies to sustain and expand export operations,” she said.
As part of the planned reform, Oduwole said President Bola Tinubu had approved the establishment of a professionally managed Trade Facilitation Fund, with 40 per cent of monthly Nigerian Export Supervision Scheme collections set aside for strategic trade-facilitation and export-incentive interventions.
“This creates a clearer relationship between available resources, verified export performance and Government’s commitments,” she said.
The minister said the restructured EEG would focus on measurable export performance, domestic value addition and diversification, with technology expected to play a greater role in data management, verification and tracking of claims.
She further announced the constitution of an EEG Restructuring Working Group comprising representatives of the Federal Ministry of Industry, Trade and Investment, Ministry of Finance, CBN, OAGF, DMO, NEPC, Manufacturers Association of Nigeria Export Group and other stakeholders.
The group is expected to submit a proposed framework for the reformed scheme within 60 days.
Oduwole said the success of the revised scheme would ultimately be measured by its contribution to the Nigerian economy.
“Every naira committed through the Scheme should have a clear line of sight to measurable economic value,” she said.
