Encouraging Nigerian Exports
Export Expansion Grant – EEG
The EEG scheme was introduced to Nigerians in 1986. It was created as a means of increasing Nigeria’s non-oil exports. This scheme has seen the value of exports from Nigeria rise from $750 million to $2.9 billion between the years 2005 to 2013.
billion $ (U.S. dollars) export value in 8 years
Some EEG Benefits
How It Works
Grants from the EEG are provided in the form of credit. This credit is known as the Negotiable Export Credit Certificate(NECC). The certificate can be used to settle all Federal Government taxes such as company income tax, VAT, WHT, and more.
Negotiable Export Credit Certificate
The NECC credit can be used for the following:
- Company Income Tax
- Value Added Tax
- Withholding Tax
- Federal Government Bond purchase
- Settlement of credit facilities provided by the Bank of Industry, NEXIM bank and CBN intervention facilities
- Settlement of AMCON liabilities
Who Is The EEG For?
The EEG is for exporters with goods that fall into the following categories:
- Fully manufactured goods (ready for consumption)
- Manufactured products that serve as input for further processing
- Processed/Intermediate products
- Primary agricultural commodities including solid minerals
How can MANEG help?
ECOWAS Trade Liberalisation Scheme – ETLS
The Economic Community of West African States(ECOWAS) created the ETLS in a bid to strengthen trade among its member states. The ETLS was created in 1976 at the summit of Heads Of States in Lome – Togo.
Nigeria signed the ETLS protocol on the 29th of May 1979 and ratified this protocol on the 12th of September 1979.
The ETLS was originally created for agricultural products, handicrafts, and crude products, however, in the year 1990, the scheme was opened up to include industrial products.
Tarrif and duties within ECOWAS states
Some ETLS Benefits
Who Is The ETLS For?
The ETLS is available for all manufacturers intending to export their products to any of the 15 ECOWAS nations.