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What measures does the Nigerian government take to promote export-oriented infrastructure development?

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(@helen-olamide)
Posts: 2050
Illustrious Member Customer
Topic starter
 
[#3318]

What measures does the Nigerian government take to promote export-oriented infrastructure development?


 
Posted : 29/04/2024 4:56 pm
(@adeyankie)
Posts: 940
Prominent Member Customer
 

The Nigerian government takes the following measures to promote export-oriented infrastructure development ¹:
- *Export Incentives and Miscellaneous Provisions Act*: This act was set up in 1986 and includes incentives like tax exemption, duty drawbacks, and other grants to support export businesses.
- *Export Expansion Grant (EEG)*: This grant was introduced to reduce production, distribution, and logistics costs for non-oil exporters, enabling them to compete in the international market. The grant ranges from 10% to 30% of the Freight On Board value of the exported products.
- *Negotiable Duty Credit Certificates (NDCCs)*: These certificates were issued by the Nigerian Customs Service (NCS) to exporters as a form of EEG. They can be used to settle or reduce import and excise duties.
- *Public-Private Partnerships (PPPs)*: PPPs are contractual agreements between public agencies and private sector entities to share skills and assets in delivering services or facilities for public use.
- *National Development Plan (NDP) 2021-2025*: This plan includes policies aimed at promoting export-oriented infrastructure development, such as increasing petroleum product prices and electricity tariffs, and implementing fiscal and monetary measures.


 
Posted : 29/04/2024 5:18 pm
(@edwardadex233)
Posts: 1000
Noble Member
 

The Nigerian government has taken the following measures to promote export-oriented infrastructure development 

1. Set up incentive schemes for export-focused businesses

2. Tax exemptions

3. Duty drawbacks

4. Grants

5. Export Expansion Grant (EEG) to reduce production, distribution and logistics costs

6. Negotiable Duty Credit Certificates (NDCCs) to settle or reduce import and excise duties


 
Posted : 02/05/2024 7:05 am
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