• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, August 27, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Federal Govt Okays N308.45bn Promissory Notes Disbursement To Exporting Firms

by Kingsley Alu
2 years ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

The federal government has approved the disbursement of N308, 458, 160, 546.41 worth of Promissory Notes to 199 exporting companies under the Export Expansion Grant (EEG) Scheme.

This was disclosed weekend in Abuja by the executive director/CEO of Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, while issuing letters to some beneficiaries of the scheme.

The EEG is a post-shipment incentive scheme that was established by virtue of the Export (Incentives & Miscellaneous Provisions) Act, Cap E19, laws of the Federation of Nigeria. It is targeted at stimulating the increase in the volume and value of Made-in-Nigerian products in the international market. The scheme is also intended to encourage export of value added products as againts raw agricultural commodities.Yakusak commended the federal government and the national assembly for prompt response in approving the payment of the outstanding claims to the beneficiaries.

The sum of N193.45 billion was approved for 133 beneficiaries of the scheme in respect of EEG outstanding claims for the period of 2017 to 2020 , while the sum of N108.3 billion was approved for 35 beneficiaries in respect of EEG backlogs of claims for the period of 2007 to 2016 respectively.

RELATED

The Evolution Of Betting In Nigeria: A Journey Of Growth

How To Bet Smarter In 2025

11 hours ago
Malabu Oil: Abacha Family Wants Minister To Withdraw Claims On Court Cases

Global Oil & Gas Contracts Up By $7bn In Q2

16 hours ago
ADVERTISEMENT

Similarly , the sum of N68.4 billion only was approved for 13 beneficiaries in respect of stocks of outstanding Negotiable Duty Credit Certificates (NDCC).

Furthermore, the sum of N6.6 billion was approved for 69 beneficiaries in respect of short fall in the approved claims by the 8th National Assembly. .

However, the Council is still awaiting the approval and release of the sum of N60.6 billion being the EEG claims for 34 beneficiary companies from the NASS.

ADVERTISEMENT

Economic pundits are of the view that with the recent approval for disbursement of the said sum, it is expected that the non-oil export activities will increase which will ultimately lead to increase in the country’s foreign exchange earnings.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


SendShare10172Tweet6357Share
ADVERTISEMENT
Previous Post

Flutterwave Expands Market Frontiers Across North Africa, Middle East

Next Post

Forex Inflow Rises To $937.6m In February

Kingsley Alu

Kingsley Alu

You May Like

The Evolution Of Betting In Nigeria: A Journey Of Growth
Business

How To Bet Smarter In 2025

2025/08/26
Malabu Oil: Abacha Family Wants Minister To Withdraw Claims On Court Cases
Business

Global Oil & Gas Contracts Up By $7bn In Q2

2025/08/26
Fadaella Foods To Capture Nigerian Market With New Products
Business

Fadaella Foods To Capture Nigerian Market With New Products

2025/08/26
Africa Prudential Records 75% PBT Growth, N41.35bn Assets In H1
Business

Africa Prudential Records 75% PBT Growth, N41.35bn Assets In H1

2025/08/26
FG, Imo, NDPHC Seek Speedy Completion Of Egbema Power Plant
Business

Kano Manufacturers Engage NDPHC On Direct Power Supply

2025/08/26
Insurance Firms Begin Self-prescribed Recapitalisation As Minimum Capital Controversy Rages
Business

New Law Offers N2m Medical Compensation For Uninsured Accident Victims

2025/08/26
Leadership Conference advertisement

LATEST

Kwara: Kidnap Victims Escape As Security Forces Raid Criminals’ Hideouts

JUST-IN: Osun Gov’t May Sack Monarch Jailed In US For $4.2m COVID-19 Fraud

Tinubu Celebrates Senator Ekpenyong At 40

Fresh FM Inferno: Ayefele Responds To ‘No Insurance’ Claims

Court Orders Banks To Produce Activist Sowore’s Account Transactions

Reps To Probe UNIBEN Teaching Hospital’s Budgetary Expenditures

C’Wealth Weightlifting: Omolola Wins Team Nigeria’s First Gold In India

JUST-IN: NRC Suspends Abuja-Kaduna Train Services After Derailment

Fire Razes 5 House In Cross River Community

Bode George Hails PDP Zoning, Says Party Ended ‘Existential Imbecility’

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.