The Nigerian Export Promotion Council (NEPC) has advised exporters in the country, particularly those in Imo State, to take advantage of its export incentive schemes to grow their businesses.
The council’s Executive Director, Dr. Ezra Yakusak, gave the advice on Wednesday in his address during the sensitisation forum on export incentives organized by the council in Owerri, Imo State, in furtherance of its role of supporting export-oriented businesses in the country.
The director listed some of the NEPC’s incentive schemes as including, the Export Expansion Grant (EEG), the Tax Relief on Interest Income (TRII) and the Export Development Fund (EDF).
Yakusak explained that the Tax Relief on Interest Income was recently activated for exporters of manufactured goods while the EDF was created to provide financial assistance to exporting companies to cover part of their initial expenses in terms of export promotion activities.
He clarified that while the EEG and the TRII were post-shipment incentives, the EDF was a pre-shipment incentive, which primarily offers support for MSMEs in order to enhance their competitiveness and productive capacity.
The director said: “The dearth of information among potential beneficiaries of the incentive schemes, evidenced by a number of enquiries about export incentives and some misconceptions, necessitated this sensitisation forum.
“I enjoin you to make the best use of this opportunity by participating fully in this forum so as to enhance your chances of benefitting from the various incentive schemes available to operators in the non-oil export sector”, he added.
In his remarks at the forum, the council’s Trade Promotion Advisor in Imo State, Mr. Anthony Ajuruchi, listed the NEPC’s other export incentives as tax holidays, subsidies, reduced duties paid on goods and duty waiver granted on some goods.
While thanking the NEPC’s management for organising the forum, Ajuruchi urged the participants to keep faith with the council’s initiatives targeted at boosting their capacity and supporting them with funds.
He expressed optimism that the sensitisation programme would benefit micro, small and medium enterprises in the state based on the knowledge to be gained from the sessions.
Ajuluchi further stressed that exporters in the state required this knowledge sharing in order to take full advantage of the incentives just like their counterparts nationwide that have been enjoying them.
