Sunday, July 15, 2012

FG: We ’ll Not Scrap Export Expansion Grant

The Federal Government has dismissed rumours that it is planning to scrap the Export Expansion Grant (EEG) policy, which was introduced to enable Nigerian manufacturers compete in the export market.

Minister of Trade and Investment, Mr. Olusegun Aganga, cleared the air on the  issue during his visit to THISDAY in Lagos.

He  stated that the government was only taking steps to review the policy to ascertain its effectiveness over the years in order to fine-tune it towards greater efficiency in  the future.

“The answer is no, we are not planning to scrap the EEG, however, we are assessing and reviewing the programme to make sure that it can achieve its mandate more effectively in the future,” the minister said.

Meanwhile, the Permanent Secretary, Federal Ministry of Trade and Investment, Mr. Dauda Kigbu, stressed the  commitment of the Federal Government to provide enabling environment for investment growth in the country.

He made this known when he received investors from Qatar led by Ranjeer Menon, at the ministry’s headquarters in Abuja.

The permanent secretary said the ministry was the gateway to investment in the country stating that it was the responsibility of the Ministry of Trade and Investment to facilitate enabling environment for investors.

“We are the gateway to whatever investment you want to make anywhere in the country. It is our responsibility to ensure that we facilitate your interest in this country and link you up with relevant ministries, departments and agencies you want to deal with,” he said.

Kigbu pointed out that government would ensure that all barriers that would militate against operation of businesses were removed adding that all necessary registration of their company can be done within 48 hours in the country.

In his comments, the leader of the delegation from Qatar, Mr. Ranjeer Menon, said  they were in Nigeria to explore the huge opportunities in logistic investment in the country adding the country still remain the hub for
businesses despite the prevailing security challenges.

He urged the Ministry to make available to them merchant statistics and production of major conglomerate in Nigeria which he said will assist them to work out how to support the economy and able to build a logistics that will make the economy to grow as fast rate.

The investors are from Gulf Warehousing Company and they were interested in focusing on logistics and infrastructure in Nigeria, warehousing solutions laboratory, Special warehousing for pharmaceutical products and third party logistics.

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