October 24, 2021

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OPINION: How Nigerian government plans to boost non-oil exports with N50 billion ESP funding

Editor’s note: Public affairs commentator, Seyi Gesinde, in this piece, writes on how the Buhari administration is planning to boost non-oil exports with N50billion Economic Sustainability Plan (ESP) funding under the purview of Vice President Professor Yemi Osinbajo, SAN.

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The Nigerian government has come up with a plan to further boost the economy of Nigerians and Nigeria. It is a lifter for all Nigerian business owners who want to boost their naira income and foreign earnings too.

This is packaged for those who want to turn their businesses global. For a country that wants to develop beyond being ordinarily called a developing nation-state, there is no better economic advantage than to create a local export opportunity for its business class — and this is what one will say engendered the need for the creation of the Export Expansion Facility Programme (EEFP), by the Buhari-Osinbajo administration, which is expected to be a quantum leap for the Nigerian economy — creating a global boom for Nigerians’ businesses.

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Segun Awolowo
The export expansion facility programme is under the purview of Segun Awolowo who heads the Nigeria Export Promotion Council.
Photo credit: Segun Awolowo
Source: Facebook

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It is in short, an opportunity brought to the doorsteps of Nigerians.

According to the government as recently explained by its driver, the CEO of the Nigeria Export Promotion Council (NEPC), Mr. Segun Awolowo, with the EEFP, a series of incentives are for Nigerians to expand their business reach and become a better version of themselves in business, and its growth.

Then, looking into the total package, the NEPC, which is an agency of the government driving the project, said there are no restrictions on the EEFP — that, it is available to help all Nigerians, saying, “if you are a company based in Nigeria, and you produce or sell anything to customers outside Nigeria, basically, you are an exporter — reach out to NEPC, you will get the needed help.”

The NEPC’s enlightenment goes thus:

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“If you serve export companies, or you have the capacity to do so, you are the right person or company for the EEFP’s advantage. Several benefits you stand to gain range from logistics, to training, to capacity building, to business development consulting, and more.”

To the economy watchers, the economic advantage created, and to be powered with a whooping N50 billion support, “is like the Buhari-Osinbajo administration is fast-forwarding development in Nigeria.”

As stressed by NEPC, it is good to note that, the Export Expansion Facility Programme, (EEFP) is expected to significantly raise the volume of non-oil exports in Nigeria, and it is a by-product of the Zero Oil Plan developed by Mr. Awolowo and approved by the President Muhammadu Buhari.

Then, apart from providing financial support for the average Nigerian exporters, the EEFP is also going to see to 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.

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Disclaimer: The views and opinions expressed here are those of the author and do not necessarily reflect the official policy or position of Legit.ng.

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