FG Creates N550bn Non-Oil Export Stimulation Grant – Maikanti

In its bid to encourage export and discourage importation amongst Nigerian business men, the federal government has created a N550 billion takeoff grant for old, new and intending exporters, Ibrahim Maikanti has disclosed.

Maikanti who is a member of the presidential technical committee on stimulation of non-oil export and the business development manager said that Nigeria would soon begin to use Cepha as an acceptable currency of international transaction just like dollars, pound sterling and euro.

Making the disclosure in Sokoto at a one-day sensitization workshop organized by the Nigerian Export Promotion Council (NEPC) aimed at sensitizing existing and intending exporters in Sokoto had “Facilitating Formal Non-Oil Export For Economic Growth” as its theme


Maikanti who is also the head, National Export Supervision Scheme Compliance and Operations, Combat International Services Limited, in a paper he presented on “Pre-Shipment Inspection of All Non-Oil Exports From Nigeria’’ said, “Hitherto, between 2006 to date, Nigeria has been given rigorous incentives to export. But given the fact that present administration want to motivate its exporters, it has now created a takeoff grant of about N550bn as non oil export stimulation fund. Other ones before are incentives but this one is stimulation”.

Speaking earlier, the advisor, Sokoto export assistance office, Tijani Zakari decried the current reality of Nigerian economic which is on the downward trend , adding that it was made worse by the country’s over dependence on oil as the major source of revenue generation.

“Now that the government has decided to diversify the economy from its over dependence on oil to non-oil products, the Nigerian Export Promotion Council (NEPC) is therefore next in line of defense for our economy’.

Analysing the gains an exporting economy has, over importing ones, Tijani said, “Certainly, available records revealed that the global economy has given businesses broader access than ever before to markets all over the world. Goods are sold in more countries, in larger quantities and in greater variety. But as the volume and complexity of the global sales increase, so do the possibilities for facilitating across in Nigeria”