EXPORT EXPANSION GRANT (EEG)-INTRODUCTION

Export Expansion Grant (EEG) is a post- shipment export incentive scheme that is designed to induce non- oil exporters whose minimum annual export turnover is N5 Million. The scheme is aimed at assisting exporters to expand their volume and value of non- oil exports, diversify export markets and make them more competitive in International markets. It was established by the Export (Incentives & Miscellaneous Provisions) Act of 1986.It is being administered by inter-ministerial committee which include the following: Federal Ministry of Finance, Central Bank of Nigeria, Nigerian Custom Service, Nigerian Export Promotion Council, Special assistance to the President on MAN.

EEG COMMITTEE

•                    Meets regularly to consider and approve claims

•                    Conducts inspection visits to factory premises of applicants

•                    Recommends abnormal cases to Inter Ministerial- Committee for possible sanctions

NEPC

•                    Hosts the Secretariat of the scheme

•                    Receives applications on EEG claims

•                    Processes EEG claims ( in conjunction with PwC )

•                    Convenes meetings of the Implementation Committee

•                    Issues and sends NDCCs to FMF for counter signature

•                    Releases countersigned NDCCs to beneficiaries

FMF

•                    Issues broad policy guidelines for EEG ( being a fiscal policy matter).

•                    Authorises the issuance of NDCCs

•                    Authorises the release of NDCCs

•                    Represented on the EEG Implementation Committee

•                    Chairs the Inter Ministerial Monitoring Committee

CBN

•                    Confirms repatriation of proceeds, and forwards the information to NEPC before any claim can be presented for approval,

•                    Approve EEG claims in conjunction with other members of the EEG Implementation Committee at the EEG IC meetings.

NCS

•                    Verifies forms NXP to CBN

•                    Approves EEG claims in conjunction with other members of the EEG Implementation Committee at the EEG IC meetings.

•                    Handles utilization of NDCCs for import duty payment

PwC

•                    Processes EEG claims in conjunction with NEPC

•                    Prepares claims value report

•                    Conducts revalidation of EEG claims

•                    PWC’s role terminated with the processing and revalidation of up to 2008 claims.