A Director in Nigerian Export Promotion Council, NEPC, Mr. Olajide Ibrahim, has appealed to the new administration to urgently approve the Pre-Shipment and Export Expansion Grant, EEG to non-oil exporters.
The News Agency of Nigeria, NAN reports that the grant was suspended early in 2015 for review.
The grant, otherwise known as the Export Development Fund, EDF, was initiated by NEPC in 2014 to assist small and medium-scale exporters.
The grant is particularly meant to boost the export of non-oil and agricultural commodities.
Ibrahim, who spoke with NAN on Wednesday in Lagos, said that the appeal was necessary because of the capital intensive nature of export business.
He said that the fund was needed to ensure quality assurance of export-bound products since majority of non-oil exports had been rejected due to poor quality.
“Grant for exporters is the major challenge now.
“We tried all our best to get it approved by the last administration, but to no avail.
“We hope that this present administration will quickly approve it because most exporters are stranded.
“This will be a major area where the present administration will do well if we want non-oil exports to receive a boost at this critical time the oil price is down,” he said.
Ibrahim said that the council had trained and re-trained exporters to improve the quality of products.