The Nigerian Government announced it has ensured the sum of the disbursement of N308.45 billion promissory notes to 199 Nigerian exporting companies.
They also added that in a bid to boost the promotion of non-oil exports in Nigeria, a Memorandum of Understanding (MoU) is in the works with the National Universities Commission (NUC), to teach export promotion in Nigerian Universities.
This was disclosed on Monday by The Executive Director of NEPC, Dr Ezra Yakusak, in Abuja at the presentation of the first half-year progress report on the non-oil export performance for 2023.
Food processing
Dr Yakusak revealed that NEPC has concluded plans for the establishment of a cashew processing plant in Ogbomosho, Oyo State.
He said that the development was in line with the council’s mandate and efforts to strengthen its value-addition campaign, adding:
- “NEPC under its export development programme for priority products has concluded plans for the establishment of a cashew processing plant in Ogbomosho, Oyo State on a Public Private Partnership (PPP) arrangement.”
The NEPC chief noted that Ogbomosho cashew is globally acknowledged as a brand for good quality and thereby highly sought after in the international market, adding they havesince commenced processes towards setting up the processing plant.
University curriculum
Yakusak said that a Memorandum of Understanding (MoU) would soon be signed between NEPC and the National Universities Commission (NUC), to promote export promotion in Nigerian universities.
He added that when introduced would go a long way in enabling undergraduates to become employers of labour and be self-reliant after graduation.
- “This initiative will further complement the efforts of NEPC at promoting the “Export4Survival Campaign’’ which is targeted at increasing the export of Nigeria’s non-oil product.”
Other developments
The NEPC revealed it inaugurated an Export Trade House (ETH) in Hunan Province, China in April 19, 2023.
Yakusak noted that this is part of NEPC’s efforts to increase the export of Made-in-Nigeria products to China.
- “The establishment of the ETH is a collaborative effort between the NEPC and Zeenab Foods Limited under a Public-Private-Partnership arrangement.
- “With the opening of the China ETH, the Council has launched and operationalised a total number of four ETHs which are located in Cairo, Egypt, Lome in Togo, Nairobi in Kenya and China.
- “Plans are underway to establish another ETH in Dubai, United Arab Emirates (UAE)”.
Promissory notes
They revealed that they have ensured the disbursement of N308.45billion promissory notes to 199 Nigeria exporting companies, as non-oil exports in the first half of 2023 generated 2.539 billion dollars adding:
- “Following the approval of the Federal Government, the disbursement to 199 exporting companies under the Export Expansion Grant (EEG) Scheme has since been completed.”