Exporters seek NASS intervention over N375bn export grant

The Organised Private Sector Exporters Association (OPEXA) is seeking the intervention of the National Assembly (NASS) to urgently ratify the approval of the N375 billion by the federal government on the backlog of the Export Expansion Grants (EEG) for exporters.

The figure is the backlog of the EEG from 2017 to 2020, whose payment was delayed due to budgetary constraints by the federal government.

The Federal Executive Council (FEC) recently approved the disbursement in form of promissory notes, which will become effective after the ratification by NASS.

Mr. Jaiyeola Olanrewaju, the Executive Secretary of OPEXA, in a statement said “We now appeal to both the National Assembly to expedite the ratification of the approval given by the FEC to provide relief to the exporters who have been starved of liquidity.”