NEPC trains exporters on accessing export finance

The Nigerian government has commenced the process for increased access to finance for active exporters and exporting companies in the country.

The Executive Director, Nigerian Export Promotion Council (NEPC), Mr Ezra Yakusak who disclosed this in Abuja at a one-day sensitisation workshop for exporters said the essence of the programme is to acquaint participants with the knowledge of export financing opportunities.

He explained that export business could be difficult but highly profitable for individuals or companies who have the required skills in finance, cost of funds and terms of payment.

The NEPC boss noted that the Export Development Fund and Export Expansion Grant is given to prospective exporters and seasoned exporters are two major incentives that ensure the nation’s exportable products are competitive in the international markets.

He, however, stated that since Export Expansion Grant is post-shipment finance, exporters need more access to pre-shipment financing and credit facilities which could assist to strengthen their financial base, ramp up production as well as process and provide additional working capital.

The Director, Product Development, William Ezeagu said the Central Bank of Nigeria and the Nigerian Export and Import Bank made facilities available for exporters to access in order to boost liquidity and operational funds but were not utilised due to lack of information on how to access it.

He said recently, the Central Bank of Nigeria made known the existence of four facilities fashioned out to finance export business under the T200 which hopefully will bring succour as well as increase Forex inflow and make the Naira stronger again.

The theme of the workshop is, “Increasing access to finance for our active exporting companies”. (VON)