Nigerian exporters are lamenting over the
N9.28bn drop in the Export Expansion
Grant released by implementing agencies of the Federal Government.
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While speaking under the aegis of the Organised Private Sector Exporters
Association (OPEXA), they explained that the grant was reintroduced by the
Federal Government in 2017 to ensure exporters’ competitiveness in the
international market.
The Executive Secretary, OPEXA, Jaiyeola Olarewaju, said the 2017
budgetary allocation of N16bn was not implemented, adding that out of the 2018
allocation of N13.28bn, only N4bn was paid in June 2019, leaving a balance of
N9.28bn.
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He added, “Also,
to the utter surprise of the sector, the budget for 2019 was reduced to
N5.12bn. This is totally arbitrary, for in spite of exports growing through the
years, the EEG provision is being reduced.”
The association demanded between N60bn
and N70bn as the 2020 budgetary provision for the EEG due to the consistent
shortfall in payments since its reintroduction in 2017.
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“We reiterate our concern at
the meagre budgetary allocations and lack of proper implementation by the
implementing agencies such as Ministries of Industry, Trade and Investment,
Finance, Budget and National Planning and the Nigerian Export Promotion
Council,” Olanrewaju said.
Olarewaju noted that Nigerian exporters
were suffering from cost disadvantages due to infrastructural constraints,
which had resulted in high cost of doing business.
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