EXPORT EXPANSION GRANT (EEG)-PROCEDURE

Baseline Data

•                    Exporters submit Baseline Data which includes Audited financial statements and information on operational capacity

•                    Baseline data is used to determine the EEG rate for one year only

•                    The rate so determined is applied to EEG applications for that particular year

•                    EEG applications are submitted after baseline data

Documentation    

•                    All applications for EEG are completed in duplicate with the following documents:

Import documents:  ( If raw materials are imported)

•                    CRI-   (clean report of inspection)

•                    Bill of Lading

•                    SGD-  ( Single Goods Declaration)

•                    Asycuda printout

•                    Final commercial invoice

•                    Receipt of payment of import duty and other charges

Export documents:

•                    NEPC non-oil data form

•                    Clean Certificate of Inspection (CCI)

•                    Forms NXP duly certified by NCS, pre-shipment inspection agents and processing bank

•                    Single Goods Declaration (SGD) forms, duly endorsed by Nigeria Customs Service

•                    Final commercial invoice

•                    Bill of Lading

•                    Certificate of Manufacture ( for Merchant exporters only)

•                    Any other documentation as may be required by NEPC from time to time

Processing EEG Applications

•                    NEPC forwards NXPs to CBN for confirmation of export proceeds

•                    Applications are passed to the Processing Room for data capturing

•                    CBN returns both confirmed and unconfirmed NXPs to NEPC

•                    Confirmed NXPs are processed further

•                    Unconfirmed NXPs are re-submitted to CBN ( after a while) for confirmation

•                    CBN will not confirm an NXP until it receives the copy from Nigeria Customs Service

•                    PwC compiles value report for EEG meeting

•                    EEG Implementation Committee meets to consider the value report

•                    NEPC forwards the minutes of meeting and approved value report on claims to FMF for final approval and authorization to issue NDCCs

•                    FMF approves the issuance of NDCCs

•                    NEPC writes the NDCCs and signs its column before sending them to FMF for counter signature

•                    FMF countersigns and returns certificates to NEPC

•                    NDCCs are released to beneficiaries by NEPC

The Redesigned EEG - Features

•                    Based on the objectives of NEEDS

•                    Introduction of baseline data and weighted eligibility criteria

•                    Rates are now mainly company – specific and not wholly product – based as in the old guidelines

•                    Double – Dipping is not allowed (An exporter must choose one among existing export incentives, e.g. EEG or MEIBS and not both)

•                    The organized private sector and other stakeholders were fully involved in the designing of the final templates

•                    Companies can even compute their EEG rates from their baseline data.