Business/Economy

FG initiates N5bn export development fund scheme for budding entrepreneurs –Official

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25 March 2021 5:40 AM GMT
FG initiates N5bn export development fund scheme for budding entrepreneurs –Official
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The Federal Government has initiated a N5 billion export development fund to support entrepreneurs and promote the export of locally made goods. Mr Tijjani Waziri, Regional Coordinator, Nigeria Export Promotion Council (NEPC), North West zone, stated this at a one-day sensitisation on the “Export Development Fund’’ , on Thursday, in Kano. Waziri said the fund […]

The Federal Government has initiated a N5 billion export development fund to support entrepreneurs and promote the export of locally made goods.

Mr Tijjani Waziri, Regional Coordinator, Nigeria Export Promotion Council (NEPC), North West zone, stated this at a one-day sensitisation on the “Export Development Fund’’ , on Thursday, in Kano.

Waziri said the fund was designed to enhance access to finance by potential exporters, to enable them boost their businesses for export and improve the national economy.

“The sum of N5 billion has been provided for the NEPC by the Federal Government to implement the scheme.

“It is a pre-shipment export incentive granted to exporters geared toward boosting their morale to achieve the desired goals.

“The fund supports initial expenses that exporters incur such as participation in trade fairs, training and symposiums in export market research and exhibitions,’’ Waziri said.

According to him, although the export development fund scheme was for the duration of one year, there was no limit to the number of exporters that could key into the programme.

Entrepreneurs and exporters drawn from the seven states of the North West zone attended the training.

Some of them including, Asma’u Bega and Bello Isa-Hashim, lauded the initiative, saying that it would go a long way in encouraging productivity and promotion of exports in the country.

Bega, however, called for the adoption of measures to ensure that only genuine exporters benefitted from the scheme.

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