FG supports 280 Export Oriented Businesses with Grants

…Creates over 100,000 direct Jobs

The Federal Government through its Export Expansion Facility Programme (EEFP) has provided grants to over 280 export-oriented businesses, resulting in the creation and preservation of over 100,000 direct jobs and an additional 20,000 jobs for youths and women.

The Export Expansion Facility Programme (EEFP) and other Trade Facilitation and Improved Export Market Access programs were established to facilitate foreign trade and create more jobs through programs such as export finance, infrastructure, capacity development, and market access.

A difficult business environment simply means fewer investors (whether domestic or foreign), fewer jobs, and fewer opportunities. However, since the establishment of the Presidential Enabling Business Environment Council (PEBEC) in July 2016, Nigeria has become a country with a high ease of doing business rating.

This was reaffirmed when the Minister of Industry, Trade, and Investment, Adeniyi Adebayo, CON, released his Ministry’s scorecard.

According to Adebayo, “The Industry, Trade, and Investment sector is critical to the growth and development of Nigeria’s economy, job creation, and poverty reduction.

“And, as a Ministry, we deliver on this mandate by creating an enabling environment for businesses to thrive, establishing an industrial base, lubricating the wheels of commerce, and instilling confidence in economic activities.

“In 2015, we inherited the recently developed Nigerian Industrial Revolution Plan (NIRP)—a strategy for industrial development. To reflect its extent, the Ministry was renamed the Federal Ministry of Industry Trade and Investment.

“We created a strategic plan to diversify the Nigerian economy for growth, job creation, and poverty reduction. The blueprint included industrialization, MSME growth, investment acceleration, and trade promotion. Process digitization, anti-smuggling measures, and a delivery framework enabled it.

The Minister reported that these programs have made progress, with huge investment in seven Sugar BIP projects and eight independent projects.

He said over $1bn in investment has been recorded in the automotive sector, adding that the government is ready to move on to the next phase for the automotive industry.
He said, “To further accelerate industrialisation, we are expediting the establishment of Special Economic Zones (SEZs) across the country to increase infrastructure availability and provide fiscal incentives for value addition.”