The Nigerian Export Promotion Council (NEPC) has launched N5 billion export trade palliative for exporters in Nigeria known as the Export Development Fund (EDF).
The disclosure was made by Mr Peter Njoku, the Assistant Director, Export Development and Incentives Department of the council, on Wednesday in Enugu, where he said that the EDF was launched over 30 years ago and recently reactivated by the FG.
“The reactivated EDF is part of the export development facilities of the federal government aimed at increasing export in Nigeria,” he said.
Njoku encouraged SMEs and exporters from the Southeast to take part in government palliative schemes for businesses, citing that only a small number of Southeast exporters benefitted from a recent Export Development Grant.
“From the records, it is obvious that people from the southeast do not usually come out to be part of this type of thing.
“Almost every intending exporter is qualified to access the fund. The requirements are not stringent to potential exporters,” he added
The Federal government recently disclosed that Nigerian Export Promotion Council (NEPC) had launched the Export Expansion Facility (EEF) under the NESP, to support the resilience of new and existing MSMEs to respond to Covid-19 pandemic shocks.