Post by Trade Coach on Mar 30, 2013 21:16:28 GMT 1
The Nigerian Export Promotion Council (NEPC) has said $2.7 billion non-oil products were exported between 2011 and last year.
During a tour of Olam Nigeria Limited in Lagos, NEPC Chairperson Mrs Grace Clark said the council would enhance the capacity of the local manufacturers.
“ The country exported about $2.7 non- oil products last year. On those industries that are adding value to the economic, they will received our attention. We want to encourage them to do more. They will be the first to benefit from the various incentives we are working on. This is in line with the government’s Transformation Agenda and backward integration policy. As for Olam, we are impressed in what we have seen so far,” she said.
She said the Federal Government’s objective of boosting non-oil exports would enable the council to focus more on agro-allied industries as well as improve the packaging and labelling standards of made-in Nigeria products.
Clark said the sesame seed promotion was part of government’s action to boost non-oil export in the country.
On the Export Expansion Grants (EEG), Clark said the Federal Government has started a comprehensive review of the EEG programme to cater for inadequacies created by the current scheme.
She said the reviewed policy would be released this year once the inter-ministerial committee working on the policy concludes its meeting.
The EEG is a post-shipment export incentive scheme designed by government to encourage non-oil exporters whose minimum yearly export turnover is N5 million. This is geared towards assisting exporters expanding their volume and value of non-oil export. It will also diversify export markets and make them more competitive in the international market.
The scheme was established by the Export (Incentives & Miscellaneous Provisions) Act of 1986 and currently being administered by inter-ministerial committee made up of the Federal Ministry of Finance, Central Bank of Nigeria (CBN), Nigerian Custom Service(NCS), NEPC and the Special Assistant to the President on Manufacturing Association of Nigeria and the private sector in general.
Some of the challenges manufacturers encounter with the EEG disbursement include the cumbersome process spread of over 18 months and instability of government protectionist policy, as well as discontinuity of the scheme at a point in time, thus crippling the non-oil export sector at a period.
The Managing Director, Olam Nigeria Limited, Mr Mukul Prakash, said the company is building a N2billion new modern sesame seed factory, expected to be inaugurated in 2014.
Source: thenationonlineng.net/new/business/industry/nepc-2-7b-non-oil-products-exported-in-2012/
During a tour of Olam Nigeria Limited in Lagos, NEPC Chairperson Mrs Grace Clark said the council would enhance the capacity of the local manufacturers.
“ The country exported about $2.7 non- oil products last year. On those industries that are adding value to the economic, they will received our attention. We want to encourage them to do more. They will be the first to benefit from the various incentives we are working on. This is in line with the government’s Transformation Agenda and backward integration policy. As for Olam, we are impressed in what we have seen so far,” she said.
She said the Federal Government’s objective of boosting non-oil exports would enable the council to focus more on agro-allied industries as well as improve the packaging and labelling standards of made-in Nigeria products.
Clark said the sesame seed promotion was part of government’s action to boost non-oil export in the country.
On the Export Expansion Grants (EEG), Clark said the Federal Government has started a comprehensive review of the EEG programme to cater for inadequacies created by the current scheme.
She said the reviewed policy would be released this year once the inter-ministerial committee working on the policy concludes its meeting.
The EEG is a post-shipment export incentive scheme designed by government to encourage non-oil exporters whose minimum yearly export turnover is N5 million. This is geared towards assisting exporters expanding their volume and value of non-oil export. It will also diversify export markets and make them more competitive in the international market.
The scheme was established by the Export (Incentives & Miscellaneous Provisions) Act of 1986 and currently being administered by inter-ministerial committee made up of the Federal Ministry of Finance, Central Bank of Nigeria (CBN), Nigerian Custom Service(NCS), NEPC and the Special Assistant to the President on Manufacturing Association of Nigeria and the private sector in general.
Some of the challenges manufacturers encounter with the EEG disbursement include the cumbersome process spread of over 18 months and instability of government protectionist policy, as well as discontinuity of the scheme at a point in time, thus crippling the non-oil export sector at a period.
The Managing Director, Olam Nigeria Limited, Mr Mukul Prakash, said the company is building a N2billion new modern sesame seed factory, expected to be inaugurated in 2014.
Source: thenationonlineng.net/new/business/industry/nepc-2-7b-non-oil-products-exported-in-2012/
