Consultant Advises On Export Dev Funds

An economic consultant, Obuserere Tamuno has enjoined operators of Small and Medium-Scale Enterprises, (SMEs) which have export potentials to avail themselves the opportunity provided by the N500 billion Export Stimulation Fund (ESF) and the N50 billion, Export Development Fund (EDF), put in place by the Federal Government to help SMEs survive.
Tamuno gave the advice at a business forum organised for SMEs in Port Harcourt, Wednesday.
He said that accessing the ESF and EDF would enhance their businesses, help them contribute to the foreign exchange revenue base of the state while creating job opportunities for the teaming jobless youths in the state.
Tamuno, a former Managing Director of Royal Micro Finance Bank, explained that the funds were designed to help the non-oil sector and would have a ripple effect if fully utilised.
He further stated that the fund would also address the low export credits available to SMEs and reposition the non-oil sector to contribute significantly to the revenue generation and economic development of the country.
“I urge you to take full advantage of these funds that the Federal Government has put in place as part of it’s diversification plan to the non-oil sector. Nigeria’s local manufactures have come a long way and should be able to favourably compete with their foreign counterparts and contribute significantly to the nation’s revenue base”.
Tamuno noted that the export funds would assist non-oil exporters up their game in expanding their businesses, help them think outside the box and improve the quality of their products and services to compete favourably with similar products and services elsewhere.
He added that the funds are available at the Central Bank of Nigeria, (CBN) through the commercial banks.

Tonye Nria-Dappa