Non-oil exporters await promissory notes as EEG backlog hits N350 billion

Prolonged approvals from the National Assembly for non-oil export incentives under the revised Export Expansion Grant (EEG) scheme, also known as the Export Credit Certificate has further increased the backlog of unpaid incentives to at least N350 billion.

Although there were expectations that some of the backlogs would be cleared next month, the delayed approval of the 2018 budget may further prolong the issuance of promissory notes to the beneficiaries.

The Federal Government had attributed the delay in clearing the backlog of the revived Export Expansion Grant (EEG) payments to prolonged approvals from the National Assembly, following revision of the incentive scheme to Export Credit guarantee Certificate.

The Guardian, May 29, 2018

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now