TheCable

The Nigerian Export Promotion Council (NEPC) has asked exporters to take advantage of its incentives to boost their businesses and penetrate the global market.

Ezra Yakusak, executive director and chief executive officer of NEPC, spoke on Wednesday at a one-day workshop on export incentives for business owners in Akure, the Ondo state capital.

Yakusak was represented at the event by Benedict Itegbe, deputy director, NEPC.

He said the two export incentives administered by NEPC — export development fund and export expansion grant — would help them to expand their businesses, leading to an increase in the volume and value of their exports.

“The workshop is being held across the country and it is designed to inform our existing exporters and potential exporters about the current incentive regime applicable in 2023,” Yakusak said.

“How to apply and benefit from them and what the objectives are, and how they are differentiated from each other.

“The incentives include Export Expansion Grant which is an incentive given to exporters as a post- shipment incentive, which means that you have already carried out the incentive transaction, repatriated the funds, you are able to bring the evidence and we would be able to calculate the rate and give you an export incentive.

“That incentive, you are expected to invest it into your buisness so that you can increase the volume and value of your export business.”

Yakusak said the export development fund incentive is aimed at preparing, facilitating and supporting new exporters to access international markets.

He explained that the incentive also provides training, trade fair participation support, financial and logistics support for the exporters.

On his part, Seyi Akintunde, Ondo state chairman of the Nigerian Association of Small Scale Industrialists (NASSI), said the workshop would enhance small and medium scale businesses in the state.

“I have noted that there are two principal or major federal agencies that are functioning in Ondo State, despite having over 15,” Akintunde said.

“NEPC and SMEDAN have been continuously functioning in the state. We have taken time to challenge other agencies that they should come up to let us know what they are up to in the state.”