NEPC, NACCIMA Sensitize Members On N5B Export Development Fund

In line with efforts towards boosting domestic export, the Nigerian Export Promotion Council (NEPC) in collaboration with the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has commenced sensitization campaign to educate Chambers of Commerce across the country on the N50 billion EXPORT EXPANSION FACILITY (EEF) under the Federal Government Economic Sustainability Plan (ESP).

This was contained in a statement made available to the Commerce and Industry Correspondents Association of Nigeria (CICAN) by The Head, Corporate Communications and Brands Management, NACCIMA, Ms Chinaza Ezeoke.

Ezeoke noted that the ESP is aimed at providing financial stimuli to revamp the economy amongst other objectives.

She stated that the EEF is one of the stimulus packages designed to stimulate export, save jobs and protect export businesses from the adverse effects of the COVID-19 pandemic.

According to her, EEF also contains a provision of N5bn for the implementation of the Export Development Fund (EDF).

Ezeoke said, “The EDF was established under the Export (Incentives and Miscellaneous) Act CAP E19 2004, to provide financial assistance to private sector exporting companies to cover part of their initial expenses in respect of export promotion, hence the organization of this first approach, which is participation of Members in training courses, symposia, seminars and workshops in all aspects of export promotion.”

She pointed out that the EDF will also provide support for MSMEs exporting companies to undertake conformity assessments in the areas of packaging, labelling, standardization, accreditation, quality certification, amongst others.

“The Sensitization seminar was held regionally in Abuja, Ibadan and Port-Harcourt with the leadership and members of the chambers of commerce present. The Sensitization seminar was also held virtually for increased awareness. Chambers of commerce were charged to disseminate information on eligibility criteria and guidelines for accessing the funds to their members who are exporters.

“The application for this Export Development Fund is set to open on Monday 29th March, 2021,” She stressed.

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