FG to spend N5bn on free shipment incentives to exporters

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The Federal Government has earmarked N5 billion under the Export Development Fund (EDF) scheme with a view to promote exports of goods, the Executive Director of the Nigeria Export Promotion Council, Mr Olusegun Awolowo, has said.

Speaking to newsmen yesterday in Kano, Awolowo said the council had put a request of N5bn to the Federal Government for the year 2017, saying the fund would be used to provide free shipment incentives to exporters.

He said, “The Export Expansion Grant was suspended three years ago and now the Federal Government wanted to encourage exportation through EDF by giving free incentives to exporters.”

Awolowo, who is also the chief executive officer of the council, said he was in Kano to see for himself the exporters’ level of commitment for export of goods.

He assured that the government is committed towards boosting exportation of goods, noting that exporters are contributing heavily in the nation’s economy.

Earlier, the Managing Director of Mamuda Industries, Hassan Mammoud, said export was the engine of a nation’s economy and therefore, government should not joke with it.

Mammoud assured the Federal Government of his company’s readiness to support any policy aimed at boosting exportation of goods, adding that his finished goods could compete favourably with any produced by other tanneries across the globe.

He added that presently his company had a total workforce of over 5,000 in Kano State and that over five million pieces of skins are being processed in the company particularly during Sallah period.

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