President Muhammadu Buhari, has approved the sum of N350billion worth of promissory notes for exporters.This is also as the president would next week, launch the Export Credit Certificate (ECC) for exporters in the country.
Executive director, Nigerian Export Promotion Council (NEPC), Mr Segun Awolowo, made this disclosure during the inauguration of the NEPC Anti Corruption and Transparency Unit (NEPC-ACTU ) yesteday in Abuja.
Awolowo said the latest move by the federal government would expand the volume and value of exports, diversify export products, improve global competitiveness of exporters, cushion the effects of infrastructural deficiencies and reduce overall unit cost of production.
According to him, the NEPC plans to grow the country’s non-oil export revenue by 20 per cent this year, adding that exporters can use the ECC certificate to pay , tax, settle debts and custom duties. He explained that at the moment , there is no tariff on export products in the country because government was incentivising the project.
On the NEPC-ACTU, Awolowo said the unit would conduct a corruption free assessment by identifying vulnerable areas that are prone to corruption , proffer appropriate recommendations and also develop integrity plans that would strengthen accountability and transparency towards enhanced service delivery in the Council.
He said the Council would work in partnership with the Independent Corrupt Practices and other Related Matters Commission (ICPC) in the fight against corruption.