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Home Business News

Federal Government issues revised guidelines for export expansion grant scheme

Deloitte by Deloitte
November 29, 2017
in Business News, Company News, Corporate Updates
Federal Government issues revised guidelines for export expansion grant scheme
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The Federal Government of Nigeria, through the Nigerian Export Promotion Council (NEPC), recently issued the revised guidelines for operation of the Export Expansion Grant scheme (hereinafter referred to as “EEG” or “the Scheme”). This move follows the decision of the FGN to reintroduce the Scheme, which had been suspended since 2013.

The EEG was originally introduced by the FGN in 1999 pursuant to the Export (Incentives and Miscellaneous Provisions) Act of 1992.

The FGN’s objective for introducing the EEG was to stimulate export-oriented activities in the non-oil sector and curtail a growing gravitation towards a mono economy.

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Fast forward to 2017, FGN is of the view that the objectives of the EEG are still relevant, more so at a time when diversification is touted as the only way to build a sustainable economy. The effective date of the revised guidelines is 1 January 2017, albeit, exports made between the time the scheme was suspended and its reintroduction are
covered under the new guidelines.

Explore the full details of the article HERE .


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Tags: Nigerian Export Promotion CouncilNigerian Exports
Deloitte

Deloitte

Visit our blog to keep yourself abreast of business alerts, subject matter expert perspectives and so on. This publication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or their related entities (collectively, the “Deloitte Network”) is, by means of this publication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No entity in the Deloitte Network shall be responsible for any loss whatsoever sustained by any person who relies on this publication.

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