Unpaid Export Expansion Grant Stood at N1.29 Trillion, Says Manufacturers

The Manufacturer Association of Nigeria Export Promotion Group (MANEG) has said the Federal Government owes exporters N1.29 trillion in outstanding Export Expansion Grant (EEG) in the last three years.

The association stated this on Thursday during the third Annual General Meeting of the group.

Ede Dafinone, the Chairman of the association, who spoke on the sidelines of the meeting, said the National Assembly through Promissory Notes issued by the Debt Management Office (DMO) has only approved N197 billion.

This he said represented only 17 percent of the total grant to be paid to exporters for 2017 EEG.

He, however, said the DMO split the N197 billion into three batches for payment and presently on the third batch now.

He said, “The total amount approved by the National Assembly on the issue of promissory notes in respect of export expansion grant came to about N197bn.

“The DMO split that into batches for payment. They are on the third batch now. The aim is to pay the debt amounting to N197bn.

“The full payment for the 2017 EEG has not been paid. Sometime in 2019, the NEPC issued export credit certificates to exporters for the 2017 EEG but at the time, only 17 per cent of the amount had been approved using those export credit certificates.

“The balance of 83 per cent is yet to be paid. We are engaging both the export promotion council and the Federal Ministry of Industry, Trade and Investment on their plans to pay the 2017 plus the 2018 and 2019 claims that are completely outstanding.”

He added that there is an outstanding payment of N130 billion before the National Assembly for approval, expected to be paid through promissory notes.

He puts EEG backlogs for 2018 and 2019 at about N200 billion.