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FGN ₦50bn Export Expansion Facility - Are You Qualified? Apply now!

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Under the Federal Government of Nigeria Economic Sustainability Plan (ESP) 2020, there is a provision of ₦50b Export Expansion Facility (EEF) stimulus fund for the implementation of the Export Development Fund (EDF).

Preamble
The Export Development Fund (EDF) was set up by the Federal Government of Nigeria under the Export (Incentives and Miscellaneous Provisions) Act CAP E19 Laws of the Federation 2004, with the objective of providing financial assistance to exporting companies to cover part of their initial expenses with respect to export promotion activities.

Recently, the Nigerian Export Promotion Council (NEPC) activated the Export Development Fund (EDF) Act 2004 with the launch of a ₦5b export trade palliative for exporters in Nigeria. The objective is to stimulate and increase the contribution of non-oil Exports to the nation's Gross Domestic Product (GDP).

Coverage
Below are the export oriented activities that qualify for EDF intervention:

  1. Participation in training courses, symposia, seminars and workshops in export promotion
  2. Advertising and publicity campaigns in foreign markets
  3. Export market research and studies
  4. Product design and consultancy
  5. Participation in trade missions, buyer-oriented activities, overseas trade fairs, exhibitions and promotions
  6. Cost of acquiring trade information
  7. Organization of joint export groups and mutual export guarantees associations
  8. Backing up the development of export-oriented industries
  9. Provide support for MSMEs exporting companies to undertake conformity assessment in the areas of Packaging, Labeling, Standardization, Accreditation, Testing, Metrology, (traceability and calibration), Quality Certification, including ISO Management Systems (QMS ISO9001, EMS ISO14001, FSMS ISO22001, OHSAS 18001 etc.), Fairtrade, Halal, Kosher, FDA and other relevant certifications.
  10. To support MSMEs in the areas of pre-shipment quarantine issues such as Standards and Regulations, Good Agricultural Practice, including post-harvest handling and Sanitary and Phytosanitary (SPS) issues.

Requirements
Intending applicants to the fund must have the following:

  1.  CAC Certificate of Incorporation 
  2.  Registration with Nigeria Export Promotion Council (NEPC)
  3.  Tax Clearance Certificate (TCC) 
  4.  Other Export-Related Documentations (for informal exporters) 
  5.  Proper registration under a Co-operative Society (for group applications) 

How to Apply
Interested individuals, businesses and organisations should contact their local Chambers of Commerce or the National Association of Chambers of Commerce of Nigeria (NACCIMA) for more information.

Or visit www.nepc.gov.ng to apply online. 
Online submission of applications opened March 30, and will be accessible through April 19 2021.

Related Documents and Links:
Products you can Export from Nigeria 
Nigerian Export Promotion Council website
How to Start Export Business in Nigeria
Import/Export Business Training Manuals

Stay Smart, Wealthy and Wise!

© Jay Onwukwe

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