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How FG Plans To Boost Export With ₦50 Billion ESP Funding - Politics - Nairaland

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How FG Plans To Boost Export With ₦50 Billion ESP Funding by murecool(m): 6:09pm On Jul 21
Following the official launch of the Economic Community of West African States (ECOWAS) Trade Promotion Organizations (TPO) Network last Friday towards increasing the volume of trade within the region, Nigeria is poised to boost its non-oil exports leveraging the platform.

The Executive Director /CEO of the Nigerian Export Promotion Council, NEPC, Mr Segun Awolowo, is also the inaugural president of the ECOWAS TPOs and the NEPC is now repositioning the nation’s export through the implementation of its N50 billion Export Expansion Facility Programme (EEFP), a part of the Economic Sustainability Plan whose development and implementation is being led by the Vice President.

The Export Expansion Facility Programme, EEFP is expected to significantly raise the volume of non-oil exports in Nigeria, and it’s a spin-off of the Zero Oil Plan developed by Mr. Awolowo and approved by the President.

Besides providing financial support for the average Nigerian exporter, the EEFP is also going to see the establishment of top-notch warehouses in the country close to airports where Nigerian goods meant for export would be packaged to global competitive standards ahead of their exportation.

The EEFP, in line with the FG’s Economic Sustainability Plan (ESP), is focused on cushioning the effects of the COVID-19 pandemic on non-oil export businesses, thereby safeguarding jobs and creating new ones. 

Earlier in March this year, the Minister of Industry, Trade and Investment (MITI), Otunba Niyi Adebayo, officially flagged off the EEFP and also launched the first online Grant Management Portal (GMP) for non-oil exports. While the EEFP is being implemented by the NEPC, the Federal Ministry of Industry, Trade & Investment is the supervisory body over the agency and its operations.

It was disclosed that although the Programme anticipated 500 beneficiaries, since the launch, it has received over 3,500 applications for the grant, out of which over 2,000 were verified after meeting the eligibility criteria.
FG officials say further details and plans on disbursement to final successful beneficiaries are being awaited.

Aside from being an intervention to save and create jobs, Adebayo noted that the Programme “will support resilience in shoring up the foreign exchange, diversification, modernization of Nigeria’s economy and acceleration of economic growth and economic support.”

Under the Export Expansion Facility, there are 16 programmes as approved in the Implementation Work plan under seven Workstreams namely – Capacity Building, Emergency Interventions, Export Aggregation, Export Inclusion, Export Trade facilitation, Institutional Strengthening and Market Development.

For instance, the Emergency Intervention is to support existing exporters in responding to shocks caused by COVID-19, while Market Development involves penetrating identified export markets as value chain analysis for priority products, leveraging Africa Growth and Opportunities Act (AGOA) and other trade treaties.

Considering the significant role it plays in growing the Nigerian economy, Micro, Small and Medium Enterprises (MSMEs) are the target group of support from the EEFP and the Export Development Fund (EDF).
At the launch of the TPO Network, Vice President Yemi Osinbajo stated that there was a need to expand intra-regional trade in the ECOWAS sub-region, with the opportunities presented by the African Continental Free Trade Area (AfCFTA) agreement.

In the same vein, Awolowo further stated that the Network will work towards facilitating the ease of trade for MSMEs within the ECOWAS region and Africa in general.

https://www.vanguardngr.com/2021/07/how-fg-plans-to-boost-export-with-n50bn-esp-funding/

1 Like 1 Share

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by KillMNKnow(f): 6:11pm On Jul 21
undecided notice me

1 Like

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by LeeSantos(m): 6:24pm On Jul 21

4 Likes

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by okefranci: 6:42pm On Jul 21
there's no doubt about it that this government has increased livelihood by all means with the help of ESP ,MSMEs is also strive as well

5 Likes

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by TheRareGem1(f): 7:14pm On Jul 21
For the people following the ESP, this is no doubt one of the most beautiful initiative by the Buhari Osinbajo administration, one that important scheme that impacting live and livelihood positively.

2 Likes

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by VillageHead: 7:48pm On Jul 21
They are preparing to boost export with 50 billion naira with nothing on the ground to curb the incessant increase in the prices of foodstuffs.

Which way Nigeria?

3 Likes

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by Optimistguy1969: 7:48pm On Jul 21
Dem too dey lie.
Cho-cho-cho-cho-cho-cho-cho

Nigeria's situation is irredeemable.
Case closed

3 Likes

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by MARKone(m): 7:48pm On Jul 21
Planning guys..
Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by Elvis2kay: 7:48pm On Jul 21

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by Xscape047: 7:48pm On Jul 21
Nawao0
Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by tunwumi: 7:49pm On Jul 21
Ok
Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by Factfinder1(m): 7:49pm On Jul 21
Nonsense lies

1 Like

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by Godfullsam(m): 7:49pm On Jul 21
THE HEAD LINE SHOULD BE, "FG PLANS TO LOOT THE ECONOMY WITH 50 BILLION NAIRA FUND".

3 Likes

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by Ddymugul: 7:49pm On Jul 21
N
Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by nextBIGthing: 7:50pm On Jul 21
Las las e no go reach the masses or affect economic situation positively
Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by sammy7410(m): 7:50pm On Jul 21
Okay

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by phemmie06(m): 7:50pm On Jul 21
Lórí irọ́
Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by CruiseMaster1: 7:50pm On Jul 21
This is great news if it actually pulls off

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Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by sonnie10: 7:50pm On Jul 21
On a serous note, can someone please tell me one thing that can be exported legally from Nigeria?

1 Like

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by Eleken: 7:52pm On Jul 21
Story
Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by phemmie06(m): 7:52pm On Jul 21
It should be how FG plan to kill exportation with N50 billion ESP fund and promote banditry and open grazing

1 Like

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by Grandmasteer(m): 7:53pm On Jul 21
this is a good example of "E don happen"
Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by Aganju849: 7:56pm On Jul 21
murecool:


https://www.vanguardngr.com/2021/07/how-fg-plans-to-boost-export-with-n50bn-esp-funding/

Fix the seaports you fools

Why in heaven's name is the black man so retårded?

1 Like

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by BigBashiru: 7:56pm On Jul 21
Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by BigBashiru: 7:57pm On Jul 21
Aganju849:


Fix the seaports you fools

Why in heaven's name is the black man so retårded?

the black man isn't retarrrded.....the black man is bullied.....

1 Like 1 Share

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by UltimateSpice: 7:59pm On Jul 21
It is a good initiative. I hope everything will work out fine.

Re: How FG Plans To Boost Export With ₦50 Billion ESP Funding by tishbite41(m): 7:59pm On Jul 21
£20 Awolowo

N50 000 000 000 Awolowo

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