By Munachimso Obienyi
The Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, has said that for Nigeria to experience economic growth, there is need to support it’s export sector.
This was even as he stated that the country is moving beyond oil and export of raw commodities and materials to boost the economy.
Adebayo made the remark at the 5th Annual General Meeting (AGM) of the Manufacturers Association of Nigeria (MAN) Export Promotion Group (MANEG), yesterday.
“Nigeria now more than ever needs to support exports. Historically the biggest incentive for exporters has been the Export Expansion Grant (EEG). Over the years, EEG has faced a number of constraints and has changed form a number of times”, he said.
He noted that the ministry understands the importance of paying outstanding EEG commitments to exporters and has consistently championed the case, adding that he was pleased to see that the issue was currently being resolved at the National Assembly and that the 38 companies omitted from the previous list of EEG recipients submitted to the Debt Management Office now have an opportunity to receive payment.
