Beneficiaries laud Fed Govt on Export Development Fund impact

The N50 billion Export Expansion Facility Programme (EEFP), implemented by the Nigerian Export Promotion Council (NEPC) has impacted positively on businesses and economy.

The scheme, launched by NIPC in January 2021 has successfully disbursed direct grants to non-oil exporters under the Federal Government’s N2.3 trillion Nigeria Economic Sustainability Plan (NESP).

The NESP was designed to protect export businesses from the effect of the COVID-19 pandemic, safeguard jobs and de-risk the economy from future shocks by focusing on driving economic growth through exports.

The EEFP activated the Export Development Fund a pre-shipment incentive stipulated in the NEPC Act, through an innovative Grant Management Portal, disbursing about N6 billion to 1,100 businesses and N23 billion in direct Covid Relief grants to qualified beneficiaries – medium to large enterprises and Women owned businesses.

To gauge the impact, the fund has had on SME businesses, StateCraft Inc. engaged with some beneficiaries including Ebunoluwa Feludu of Jam-the-coconut food, Deborah Apochi of Shield of Women both food processing companies.

Furthermore, an in-depth interview with Ade Adefeko, Chairman of the NACCIMA Agricultural Trade Group and Vice President, Corporate and Government Relations, Olam International Nigeria a reputable conglomerate and beneficiary under the EEFP, revealed that the injection of funds to the non-oil sector is timely and a step in the right direction.

He said,“We commend government for thinking about exporters after the impact of COVID-19 especially as non-oil exports are a veritable means of diversifying the Nigerian economy. The funds have helped us (Olam Nigeria) with our supply chain and capacity building.”

Narrating the process of securing the grant, Ebunoluwa said, “When the call for the EEFP grant came out, it was awash over social media and business-centric group chats. So, I just applied as normal. [Then] I got an email saying you have prequalified. Got another email saying the grant had been approved. Received another email saying you are going to get credited at such and such a time. Then the next thing I got was an alert.” As a result of the EEFP grant, Jam-the-coconut food has gone beyond surviving and is creating jobs for people especially women in communities where females are commonly marginalized. She further explained, “Eighty per cent of our people here are women. We set out to be that way specifically because in coastal communities like these — women are sort of left behind”.

As a consequence of receiving the grant, Deborah Apochi narrated that the monies were pivotal in her business transition process. According to her, “Before now, our business used to trade Agro products — raw food items, but now we have scaled to processed finished products”. She added, “when the grant was received, we were able to purchase our washing machine, mini machine, dehydrating machine, slicing machine; and all these machines are 304 stainless steel to meet international best practices and ensure client satisfaction.”

According to the EEFP Programme Coordinator, Maureen Ideozu: It is heartening to note that beneficiaries who prior to receiving the grants were facing difficulties due to the effects of COVID 19 are now more stable and productive, having utilized the funds to expand and diversify their businesses thereby saving and creating jobs and at the same time being more competitive in the global export market. The guiding blueprint of the EEFP has been the Zero Oil Plan of the NEPC and the ability to touch the entire non-oil eco-system has been very rewarding”.