By Emmanuella Anokam
Abuja, Jan. 14, 2021 The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, on Thursday inaugurated a steering committee for the implementation of the Export Expansion Facility (EEF) to boost non-oil exports.
Adebayo at the virtual inauguration of the committee warned that the economy would remain vulnerable to external shocks with attendant effects of devaluation, inflation and unemployment, if the country did not grow its non-oil exports.
The minister in a statement by his Special Assistant on Media, Ifedayo Sayo, said that export growth was at the centre of the strategy for diversifying Nigeria’s sources of foreign exchange.
FG inaugurates Steering C’ttee to implement N50bn EEFP
On
By Gabriel Olawale
Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, yesterday, inaugurated an 11-man Steering Committee for the implementation of the Export Expansion Facility Programme, EEFP, under the National Economic Sustainability Plan.
The EEFP aims to protect export businesses from the effects of Coronavirus, COVID-19, pandemic, safeguard jobs and de-risk the economy from shocks like pandemic. Its primary goal is to increase Nigeria’s export capacity in the near term and its export volumes in the medium term.
The Federal Government will spend an estimated N2.3 trillion to fund the National Economic Sustainability Plan, but the N50 billion Export Expansion Facility programme would focus on driving economic growth through exports.
FG Inaugurates Committee to Implement N50bn Export Facility thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.