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  • Cashew exporters expect negotiable duty credit N18bn grant

    Jan 28th, 2015

    Cashew Association of Nigeria, says the its NCAN exporters are expecting N18 billion in grant after the federal Government Lifted the suspension on the Negotiable Duty Credit Certificate, NDCC. The association's spokesperson, Mr Sotonye anga, the News Agency of Nigeria Told, NAN in Lagos mà his members would this Benefit from the N99 billion for Export Expansion Grant just released, EEG. Dr Ngozi Okonjo NAN recalls mà-Iweala, the Coordinating Minister of the Economy, had on Tuesday, announced the restoration of the Export Expansion Grant, EEG to boost export. Anga Export Expansion Grant said rằng was suspended four years ago. Theo, photographing, the suspension has hindered the country's Growth of the export sector. He Expressed optimism rằng restoration of EEG would boost the non-oil sector and the country's Economic Growth Accelerate. "This is really a good time for the Cashew export. A total of N98 billion was released for the NDCC and the Cashew sector sẽ get N18billion. "This Will help to boost exporters' business, Especially as We prepare for the new season Cashew. When the scheme was suspended, export activities from Were halted, Especially the non-oil sector, '' said anga. He commended the Government for lifting the suspension, Saying That the money shouldnt be released to the beneficiaries on time. Anga That said the money had accumulated for too long and exporters needed to spend the weekend Organise Businesses for 2015 farming season. "We appeal to the federal Government to release the money in good time. This money sẽ not only boost the business, but sẽ am also help to turn around the nation's economy, '' he said. Anga am also appealed to the Government to cung pre-export and post-export Incentives to Farmers. Theo, photographing, transportation is expensive, Electricity tariff is high and Accessing loans in Nigeria is difficult. "These problems have AFFECTED the sector and this is the right time to fund the non-oil sector, considering the downward trend in the global Prices of Crude Oil, '' he said. NAN reports rằng EEG is a post shipment export incentive scheme Designed to assist non-oil exports. The EEG and NDCC are valid and legal tenders for payment of excise duty or any Customs. Nigeria Customs Service Recently had published a public notice of beneficiaries of the first phase of the NDCC. In the notice, PROCEED Beneficiary companies Were advised to spend the weekend with instruments to Customs Area Commands for redemption. Others That did not make the list Were advised to wait for the next batch.