The Manufacturers Association of Nigeria Export Promotion Group (MANEG) has highlighted the consequences of unpaid export expansion grants to 39 exporters, with some dating back to 2009.
The group also called for a comprehensive overhaul of the export grant process, including a dedicated budgetary allocation. The EEG is a post-shipment incentive scheme that was established by virtue of the Export (Incentives & Miscellaneous Provisions) Act, Cap E19, laws of the Federation of Nigeria. It is targeted at stimulating the increase in the volume and value of Made-in-Nigeria products in the international market.
The scheme is also intended to encourage the export of value-added products as against raw agricultural commodities. The Chairman of MANEG, Odiri Erewa-Meggison, said an overhaul would send a clear signal to exporters that they are a priority for the government and would help exporters remain competitive on a global scale.
Erewa-Meggison appealed to the group’s seventh Annual General Meeting (AGM) held in Lagos, themed ‘Targeting a Favourable Balance of Trade: The Role of Non-oil Export Incentives for Manufacturers’.
She advocated enhanced non-oil export incentives to support the manufacturing sector amidst ongoing economic challenges, emphasising the need for government’s support to help manufacturers manage high production costs and remain globally competitive.
Erewa-Meggison stressed the critical role of non-oil exports in achieving a favourable trade balance for the economy, especially given the difficulties manufacturers face, including recent policy reforms, insecurity, foreign exchange scarcity, and rising energy costs.
Despite these challenges, she highlighted a 17.37 per cent increase in the export value of manufactured goods in the fourth quarter of 2023, reflecting the resilience of Nigerian manufacturers.
“We have endured one of the toughest periods in the history of Nigeria’s manufacturing sector, with mounting pressures from policy reforms, security concerns, and macroeconomic difficulties. Nonetheless, our members have shown remarkable dedication and professionalism,” she said.
While acknowledging the challenges of logistics and port congestion, Erewa-Meggison expressed optimism about ongoing reforms aimed at easing business operations and boosting Nigeria’s export potential.
She also recognised the recent renovation of the MANEG Secretariat, sponsored by British American Tobacco Nigeria (BATN) and underscored the importance of staff welfare, announcing a salary upgrade in recognition of their contributions to the group’s operations.
She reaffirmed her commitment to advancing MANEG’s advocacy for non-oil export incentives and encouraged members to remain resilient in their entrepreneurial efforts despite the economic headwinds.
