Nigeria is preparing to increase its non-oil exports by using the Economic Community of West African States (ECOWAS) Trade Promotion Organizations (TPO) Network, which was officially launched last week.
The Executive Director /CEO of the Nigerian Export Promotion Council, NEPC, Mr Segun Awolowo, is also the inaugural president of the ECOWAS TPOs and the NEPC is now repositioning the nation’s export through the implementation of its N50 billion Export Expansion Facility Programme (EEFP).
This is a part of the Economic Sustainability Plan whose development and implementation is being led by the Vice President.
Meanwhile, the Export Expansion Facility Programme, or EEFP, is a spin-off of Mr. Awolowo’s Zero Oil Plan, which was approved by the President and is intended to considerably increase the volume of non-oil exports in Nigeria.
Besides providing financial support for the average Nigerian exporter, the EEFP is also going to see the establishment of top-notch warehouses in the country close to airports where Nigerian goods meant for export would be packaged to globally competitive standards ahead of their exportation.
The EEFP, in line with the FG’s Economic Sustainability Plan (ESP), is focused on cushioning the effects of the COVID-19 pandemic on non-oil export businesses, thereby safeguarding jobs and creating new ones.
Earlier in March this year, the Minister of Industry, Trade and Investment (MITI), Otunba Niyi Adebayo, officially flagged off the EEFP and also launched the first online Grant Management Portal (GMP) for non-oil exports.
While the EEFP is being implemented by the NEPC, the Federal Ministry of Industry, Trade & Investment is the supervisory body over the agency and its operations