Promissory notes worth N308, 458, 160, 546.41 have been approved for distribution to 199 exporting enterprises by the federal government.
The payout falls under the Export Expansion Grant program, according to a statement signed by Ndubueze Okeke, Head, Corporate Communications, Nigerian Export Promotion Council.
The EEG is a post-shipment program designed to encourage growth in the quantity and price of Made-in-Nigeria products on the global market. The program also aims to promote the export of value-added goods as opposed to unprocessed agricultural products.
While sending letters to some program beneficiaries in Abuja, the Executive Director/CEO of NEPC, Dr. Ezra Yakusak, confirmed the approval and thanked the Federal Government and the National Assembly for approving the payment of pending claims to beneficiaries.
According to information obtained, N193, 456, 239, 386.40 was approved for 133 scheme beneficiaries in relation to EEG unresolved claims for the years 2017 to 2020, and N108, 317, 269, 008.76 was approved for 35 beneficiaries in relation to EEG unresolved claims for the years 2007 to 2016, respectively.
Also, 13 recipients received the sum of N68 389 000 in payment for their stocks of outstanding Negotiable Duty Credit Certificates.
The eighth National Assembly also granted N6,617,781,151.25 for 69 recipients to cover the difference in approved claims.
Yet the council is still waiting for the National Assembly to approve and release the sum of N60,635,088,940.63 that represents the EEG claims for 34 beneficiary enterprises.
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