The Nigerian Export Promotion Council (NEPC) has resumed
processing baseline data for the reintroduced Export Expansion
Grant (EEG) scheme. This follows the earlier announcement by the
Federal Government (FG) that the scheme would be reintroduced in
the 2017 fiscal year.
EEG scheme was introduced by the FG in 1999 to stimulate
export-oriented activities in the non-oil sector. The introduction
of the scheme was driven by the need to diversify the economy
thereby reducing dependence on oil for foreign exchange earnings.
Beneficiaries of EEG are given a Negotiable Duty Credit Certificate
(NDCC) which may be used to pay import and excise duties. The
quantum of grants to an exporter is dependent on a set of
company-specific information, known as baseline data.
In a notice recently issued by NEPC, non-oil exporters are
requested to submit baseline data covering the periods 2013 to 2016
calendar years. The objective of this data gathering exercise is to
enable NEPC calculate applicable EEG rates for 2014 to 2017
calendar years. The timeframe given for submission of the baseline
data is 29 March 2017 to 27 April 2017.
Whilst the reintroduction of EEG scheme is expected to promote
the export of non-oil products (a key goal of the present
administration), it will be interesting to see how NEPC intends to
manage the challenges and excesses which led to the initial
suspension of EEG scheme.
We recommend that non-oil exporters submit their baseline data
before the communicated deadlines. Importantly, intending
applicants must adhere strictly to the guidelines and accurately
complete the forms to avoid rejection of the application.
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