NEPC seeks N5bn to support industries

Posted by News Express | 25 July 2017 | 1,939 times

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•NEPC ED Olusegun Awolowo.

The Nigerian Export and Promotion Council (NEPC) has proposed to the Federal Government the approval of five billion naira to support industries in the country.

Mr Olusegun Awolowo, the NEPC Executive Director made this disclosure on Monday during an inspection visit to some industries in Kano.

“One of our major aims for this visit is to find out the challenges these companies are facing and find a way to see how we can assist them in addressing them.

“The intervention is part of the Federal Government’s Export Development Fund for industries for pre-shipment incentive for exporters, which has been stopped three years ago.”

He added that if the fund is approved, it would contribute towards boosting the country’s economy due to the large number of job opportunities companies could provide for the public.

“The industries need more support from the government because more than 5, 000 people are working under one of the companies, which contributes so much to reduce the rate of unemployment in the state and the country.

“The efforts to support the companies is not only in the area of their exports, but equally important is their contribution to the country’s economy.”

Awolowo lauded the companies for complementing the Federal Government’s efforts towards reducing the number of unemployed youths in the country.

The NEPC chief expressed the fear that should the industries collapse, the country’s economy would collapse and therefore, urged them to redouble their commitment towards moving the country forward.

In his remark, the Managing Director of Mamuda Industries Nigeria Limited, Mr Hassan Mammoud, lauded the Federal Government for its foresight to support industries in the country.

Some of the industries visited including Spinning, Tannery, Plastic and Bags production companies. (NAN)

Source: News Express

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