FG Grants Non-oil Exporters N254bn Incentives

Manufacturers and producers of export commodities in the country have received a total of N254.09 billion from the federal government through the Export Expansion Grant (EEG). Minister of State for Finance, Dr Yerima Lawan Ngama, who made this known yesterday in Abuja, also said that the incentives provided by the EEG had resulted in a massive rise in the country’s non-oil export from $100 million in 2005, when the scheme commenced to $3.2 billion as at December 2011.
According to Ngama, the Export Expansion Grant(EEG) scheme has been a very vital incentive required for the stimulation of export oriented activities that would lead to significant growth of the non-oil export sector.
According to him, the federal government was committed in its efforts to bringing about tremendous growth in non-oil exports and was resolved to enhance efficiency, transparency and accountability in the administration of the key incentive for non-oil export development.