The Federal government owes exporters N1.29tn in outstanding export expansion grant for three years.
The Manufacturers Association of Nigeria Export Promotion Group made this known on Thursday during the third Annual General Meeting of the group.
Speaking on the sidelines of the meeting, the Chairman, MANEG, Ede Dafinone, explained that only N197bn had been approved for payment by the National Assembly through Promissory Notes issued by the Debt Management Office.
This amount, according to him, represented 17 per cent of the total grant to be paid to exporters for 2017 EEG.
Already, he said three batches of the N197bn Promissory Notes had been issued to exporters through a bidding process.
He said, “The total amount approved by the National Assembly on the issue of promissory notes in respect of export expansion grant came to about N197bn.
“The DMO split that into batches for payment. They are on the third batch now. The aim is to pay the debt amounting to N197bn.
“The full payment for the 2017 EEG has not been paid. Sometime in 2019, the NEPC issued export credit certificates to exporters for the 2017 EEG but at the time, only 17 per cent of the amount had been approved using those export credit certificates.
“The balance of 83 per cent is yet to be paid. We are engaging both the export promotion council and the Federal Ministry of Industry, Trade and Investment on their plans to pay the 2017 plus the 2018 and 2019 claims that are completely outstanding.”
He added that an outstanding N130bn grant, which would be paid through promissory notes, had not been approved by the National Assembly.