Wednesday, April 21, 2021
Home Business FG Initiates N5bn Export Devt Fund for Budding Entrepreneurs

FG Initiates N5bn Export Devt Fund for Budding Entrepreneurs

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -


The Federal Government has initiated a N5 billion export development fund to support entrepreneurs and promote the export of locally made goods.

Mr Tijjani Waziri, Regional Coordinator, Nigeria Export Promotion Council (NEPC), North West zone, stated this at a one-day sensitisation on the “Export Development Fund”, on Thursday, in Kano.

Waziri said the fund was designed to enhance access to finance by potential exporters, to enable them boost their businesses for export and improve the national economy.

READ  FG Appoints Malam Abubakar Fikpo Acting DG NDE

“The sum of N5 billion has been provided for the NEPC by the Federal Government to implement the scheme. It is a pre-shipment export incentive granted to exporters geared toward boosting their morale to achieve the desired goals. The fund supports initial expenses that exporters incur such as participation in trade fairs, training and symposiums in export market research and exhibitions,” Waziri said.

According to him, although the export development fund scheme was for the duration of one year, there was no limit to the number of exporters that could key into the programme.

READ  NAF Appoints New Officers, Spokesperson, Others
READ  Coronavirus Crisis Cost Auto Branch Billions Worldwide, Study Says

Entrepreneurs and exporters drawn from the seven states of the North-West zone attended the training.

Some of them including, Asma’u Bega and Bello Isa-Hashim, lauded the initiative, saying it would go a long way in encouraging productivity and promotion of exports in the country.

Bega, however, called for the adoption of measures to ensure that only genuine exporters benefitted from the scheme.

READ  Buhari’s Policies Yielding Fruitful Results – Gov Bagudu

© 2021, Scud News. All rights reserved.

- Advertisement -


Please enter your comment!
Please enter your name here

Most Popular

NAICOM Revokes UNIC Insurance’s Operational Licence

  The National Insurance Commission (NAICOM) on Wednesday announced the cancellation of the operational licence issued to UNIC Insurance Plc. The operational licence – RIC...

Senate Approves N1.678trn Revenue Target For NCS

  Senate at the plenary on Wednesday approved a total of N1.678 trillion revenue targets for the Nigerian Customs Service (NCS) for the 2021 fiscal...

100 Indigent Students To Receive Bursary Awards In Lagos

Mr Sesan Daini, Chairman, Igbogbo-Baiyeku Local Government Developmental Area, Lagos State, says the council will give 100 indigent students N10, 000 each as a...

© 2020 – 2021, Scud News. All rights reserved.

error: Content is protected !!