The federal government has begun steps to resolve about N330.08 billion in outstanding Export Expansion Grant obligations while restructuring the incentive programme to make future payments more predictable, transparent and financially sustainable.
Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed the move at a stakeholder engagement on the Export Expansion Grant scheme in Abuja, saying the ministry had been directed to address verified legacy claims and create a more durable funding framework.
According to the minister, the outstanding liabilities comprise about N269.45 billion in verified claims involving 195 beneficiary companies previously approved under a Promissory Note Programme by the Federal Executive Council in May 2023, as well as approximately N60.64 billion in stepped-down claims involving 32 companies for the 2017 to 2020 period.
Oduwole said the ministry was working with the Federal Ministry of Finance, Debt Management Office, Office of the Accountant-General of the Federation, Central Bank of Nigeria, National Assembly and Nigerian Export Promotion Council to reconcile and process the obligations.
She said prolonged delays had affected exporters’ liquidity, investment planning and capacity to expand, making the resolution of verified claims important to restoring confidence in the incentive system.
The minister stressed, however, that settlement would apply only to claims that had gone through the required verification, validation and approval procedures.
Beyond clearing the backlog, Oduwole said President Bola Tinubu had approved a new funding structure under which 40 per cent of monthly Nigerian Export Supervision Scheme collections would be ring-fenced for trade facilitation and export incentives through a professionally managed Trade Facilitation Fund.
The restructured EEG, she said, would be designed to reward genuine export performance, encourage greater domestic value addition and support diversification of Nigeria’s non-oil export base.
An EEG Restructuring Working Group comprising representatives of the trade and finance ministries, CBN, OAGF, DMO, NEPC, the Manufacturers Association of Nigeria Export Group and other stakeholders has been given 60 days to produce a proposed structure for the revised scheme.
Technology is expected to play a larger role in claims management. Oduwole said stronger digital systems should improve verification and transparency while allowing exporters to track their claims and identify outstanding documentation or requirements.
She said the success of the revised programme should ultimately be measured not by the volume of claims paid but by whether public expenditure produces stronger exporting firms, more domestic value addition, jobs and higher foreign-exchange earnings.
NEPC Executive Director and Chief Executive, Nonye Ayeni, said the review came as Nigeria recorded what she described as its highest-ever volume and value of non-oil exports, alongside growth in the number of products and export destinations.
Ayeni said the backlog demonstrated the need for an incentive architecture that is credible, measurable and responsive to the operating realities of exporters. She pledged that NEPC would work with government agencies, MANEG and beneficiaries to translate stakeholders’ concerns into implementable recommendations.
