Mr. Peter Njoku, the Assistant Director, Export Development and Incentives Department of the Nigerian Export Promotion Council (NEPC) on Tuesday announced the launch of the Export Development Fund (EDF). The program which has been in existence for the past 3 decades, comes as a N5billion export trade palliative for Nigerian exporters. The EDF was merely reactivated by the Federal Government in Enugu recently.
According to the NIPC, Njoku said, “The reactivated EDF is part of the export development facilities of the federal government aimed at increasing export in Nigeria.”
“From the records, it is obvious that people from the southeast do not usually come out to be part of this type of thing.
“Almost every intending exporter is qualified to access the fund. The requirements are not stringent to potential exporters.”
According to Nairametrics, “The Federal Government recently disclosed that the Bank of Industry (BoI), under the supervision of the Federal Ministry of Industry, Trade and Investment, has secured a $1 billion syndicated loan to support Micro, Small and Medium Enterprises (MSMEs) in the country.
The FG also added that Nigerian Export Promotion Council (NEPC), had launched the Export Expansion Facility (EEF) under the NESP, to support the resilience of new and existing MSMEs to respond to Covid-19 pandemic shocks.”
Azuka Edokobi is a Writer and Entrepreneur