FG Now Creates 550bn As Non-Oil Export Stimulation Takeoff Grant


In its bid to encourage exportation and discourage the known trend of importation from amongst Nigerian businesspersons, the federal government has created a 550 billion naira takeoff grant for old, new and intending exporters, Ibrahim Maikanti has disclosed.

Maikanti who is a Presidential Technical Committee member on Stimulation of Non-Oil Export and the Business Development Manager and Head, National Export Supervision Scheme Compliance and Operations, Combat International Services limited, added 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 presented a paper 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 550bn 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 that the current reality of Nigerian economic which is on the downward trend 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’.

Analyzing 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”

On his part, the Zamfara Export Assistance Officer, Mohammed Yusuf who spoke on Export Strategies and product Adaptation said, exporting business requires lots of feasibility studies and consistency to break even.