The Federal Government is set to restructure the Export Expansion Grant (EEG) scheme to make it more sustainable and address the backlog of payments owed exporters.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this in Abuja during a stakeholders’ engagement on the EEG scheme.
Oduwole said the government was also working to clear outstanding claims under the programme, which has not been paid since 2020.
She explained that the scheme was introduced to support non-oil exports by enhancing their competitiveness in regional and international markets.
According to her, the delay in settling the claims was linked to the validation and verification of submissions made by exporters.
Oduwole said the EEG was an inter-ministerial initiative involving several agencies, including the Ministry of Finance and the Central Bank of Nigeria (CBN), while the Ministry of Industry, Trade and Investment coordinates it as an export promotion instrument through the Nigerian Export Promotion Council (NEPC).
She said the stakeholders’ meeting was focused on two key issues: clearing the payment backlog and restructuring the scheme to ensure its long-term sustainability.
“This is all in line with delivering President Ahmed Bola Tinubu’s $1 trillion economy under the Renewed Hope Agenda.
“The President specifically asked that the Federal Ministry of Industry, Trade and Investment lead the diversification of the economy and prioritise non-oil exports,” she said.
The minister said the government had been working on the scheme for the past two years, adding that the latest engagement was aimed at presenting the progress made and obtaining further input from exporters.
She recalled that she had earlier met with stakeholders in November 2024 before commencing work to address some of the issues surrounding the programme.
Oduwole said Nigerian non-oil exporters had recorded growth in both volume and value over the past two years, describing the development as a positive indication of the sector’s potential.
“The most important thing to note is that exporters have been leading. Nigerian non-oil exporters have grown both in volume and value over the last two years, breaking records, and we expect that to continue,” she said.
She added that the administration was seeking to provide incentives for exporters in a sustainable manner to boost production, create jobs and expand the global reach of Nigerian products.
According to her, the government’s efforts also cover market access and trade agreements, including the African Continental Free Trade Area (AfCFTA).
She said the EEG restructuring was another component of the administration’s broader efforts to support Nigerian businesses and diversify the economy.
