Exporters stand to recover a combined ₦330.08 billion as the federal government has convened fresh negotiations to reconcile outstanding Export Expansion Grant liabilities. The Nigerian Export Promotion Council, acting on a directive from Jumoke Oduwole, the minister of Industry, Trade and Investment, is leading talks with the Manufacturers Association of Nigeria Export Group and other industry stakeholders in Abuja.
Nonye Ayeni, executive director and CEO of the NEPC, said the meetings are intended to resolve unpaid liabilities, diagnose operational bottlenecks and produce practical proposals to restructure the EEG. She emphasised the government accepts obligations but that payments will follow established verification and approval processes, a condition that will determine which exporters receive funds and when.
The backlog combines different categories of obligations. In May 2023 the Federal Executive Council approved a promissory note programme for approximately ₦269.45 billion covering 195 beneficiary companies. Stepped-down claims for 32 companies from the 2017–2020 period add about ₦60.64 billion, producing the stated total of roughly ₦330.08 billion under review.
The review will pull together multiple agencies. The NEPC listed participants including the Federal Ministry of Industry, Trade and Investment, the Ministry of Finance, the Debt Management Office, the Office of the Accountant-General of the Federation, the Central Bank of Nigeria and the National Assembly. Officials said the obligations under consideration include previously approved promissory notes, verified claims across several years and stepped-down items awaiting confirmation.
Ayeni also outlined a funding reform that has presidential approval. "A critical part of this reform is the funding architecture. Mr President has approved the establishment of a professionally managed Trade Facilitation Fund, with 40 per cent of monthly Nigerian Export Supervision Scheme collections ring-fenced to support strategic trade-facilitation and export-incentive interventions," she said. The measure is intended to align available resources with verified export performance and government commitments.
Stakeholder consultations will conclude with agreed recommendations and action points designed to make the EEG more credible, transparent and financially sustainable. The next steps are a timetable for verification, a schedule for promissory-note settlements and implementation details for the new Trade Facilitation Fund, all of which will determine how quickly exporters receive cleared payments.
