The Federal Government yesterday, said that it has started implementing the Zero Oil Plan (ZOP), as set out in the Economic Recovery and Growth Plan (ERGP).
Minister of Budget and National Planning, Udoma Udo Udoma, who disclosed this in Abuja, said in order to achieve the objective government has set up a committee that would be working in close collaboration with state governments to promote the establishment of Domestic Export Warehouses and Aggregation Centres in each of the six geo-political zones of the country.
“The Committee is also promoting Project MINE. The acronym ‘MINE’ stands for Made-in-Nigeria for Export. Under Project MINE, Special Economic Zones will be used as the mechanism for making Nigeria a pre-eminent manufacturing hub in Sub-Saharan Africa and a major exporter of Made-in-Nigeria goods and services regionally and globally” Udoma said.
He explained that the project, which has received the approval of the Federal Executive Council (FEC) has secured early commitments from domestic and foreign investors in textiles and garments industry as well as agro-processing sub sector.
“Government is also reactivating the Export Expansion Grant (EEG) Scheme and the Export Development Fund (EDF) Scheme, with the sum of N13.28 billion provided in the 2018 Budget.”he said, pointing out that the ERGP aims to expand and increase private sector investment. Read more