With N194 billion of the outstanding Export Expansion Grant already settled via promissory notes from the Debt Management Office , the Nigerian Export Promotion Council has given assurance of the approval and settlement of the remaining N156 billion by the National Assembly.
Speaking at a webinar organised by the Lagos Chamber of Commerce and Industry on funding support for exporters, the Chief Executive Officer of NEPC, Olusegun Awolowo, said the Council was also exploring factoring as a way of addressing the export finance gap. He urged non-oil exporters to comply with the requirements set by the NEPC to ensure their applications sail through. On the expansion of exports to other ports, he decried insecurity as a major concern for vessels that explore the region but urged operators not to relent. He noted that the NEPC used the Calabar port to export almost 7000 tonnes of cocoa recently.
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