FG Reviews Scheme To Increase Exports

The Minister of State, Industry, Trade and Investment, Aisha Abubakar, during the breakfast meeting and inauguration of Manufacturers Association of Nigeria (MAN) in Lagos, disclosed that the federal government is currently reviewing the Export and Expansion Grant (EEG) scheme and Negotiable Duty Credit Certificate (NDDC) claims to resolve the export market’s impasse.

“To assure you of the present administration’s interest in manufacturer’s activities, the issue of EEG/NDCC claims is being addressed and the review will soon be concluded. The ministry has also focused on permissive economic strategies anchored on free market economy, free entry and free exist of factors of production, local resources development and utilisation to get it right”

“This entails capacity production utilisation in the manufacturing sector, as well as vigorous export promotion and expansion through the provision of appropriate mix of incentives to local and foreign investors, manufacturers and exporters so as to encourage increased domestic production, and export of made in Nigeria goods”

“The interest of the present administration is to have a visible and vibrant manufacturing sector that is adequately empowered to produce goods for local consumption and for export, in line with its diversification agenda. The Government has created and is still creating enabling business environments to fix and fill the gap created by industrial challenges.

“Economic growth can never be achieved without diversifying through agriculture value chain, mining, oil and gas processing in Nigeria today. The interest of the present administration is to have a visible and vibrant manufacturing sector that is adequately empowered to produce goods for local consumption and for export” she said.

The minister added that the manufacturing sector is expected to give life to the government policy on employment generation and empowerment, but it seems to be endangered as its decline has partly contributed to the current level of unemployment and the rising number ailing industries.