Nigeria’s Export Promotion Agency Seeks $15m to Support Local Industries

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The Nigerian Export and Promotion Council (NEPC) is seeking N5 billion from the country’s government to ensure its local industries become more competitive.

Mr. Olusegun Awolowo, an Executive Director of the agency, made this disclosure on Monday during an inspection visit to some companies in Kano.

“One of our major aims for this visit is to find out the challenges these companies are facing and find a way to see how we can assist them in addressing them.

“The intervention is part of the Federal Government’s Export Development Fund for industries for pre-shipment incentive for exporters, which has been stopped three years ago,” he said.

He added that if the funds are approved, it would go a long way towards boosting the country’s economy by providing more job opportunities and greater positive externalities.

“The industries need more support from the government because more than 5,000 people are working under one of the companies, which contributes so much to reduce the rate of unemployment in the state and the country.

“The efforts to support the companies are not only in the area of their exports, but equally important is their contribution to the country’s economy,” he explained.

Awolowo lauded the companies for complementing the Federal Government’s efforts towards reducing the number of unemployed youths in the country.

Some of the companies visited operate within a diverse range of industries including Spinning, Tannery, Plastic and Bags production.

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