Commerce 44 Initiative, a new measure to enhance exports has been approved by the federal Government.
The policy does away with all export levies, which were outstanding and were a hindrance against the products of exports.
An incentive to boost Nigerian exports in the international market, termed as Export Expansion Grant (EEG) has also been approved by the Government.
Addressing the weekly Federal Executive Council (FEC) chaired by the President Olusegun Obasanjo in Abuja, Minister of Commerce, Aliyu Modibbo said that Council had already approved revision of EEG scheme.
Under EEG, 14 week time is taken to process exporters claims and the Minister disclosed the commodities which will have tax free facilities.
List includes among other items like footwear, leather, textile and garment, shrimps, rubber and various products. Tax free scheme will also benefit agricultural products like cotton, Fruits and Vegetables.
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