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Govt may withdraw benefits on cotton exports
18 Oct '10
1 min read
Vice President, Mohammed Namadi Sambo recently while in a meeting with the management of United Nigeria Textile Plc (UNT Plc) in Abuja stated that, the Federal Government is examining the prospects of ending Export Expansion Grant (EEG) available for export of ginned cotton.
Sambo even emphasized on the need to convene a meeting with Governors of 19 northern states to plan cotton production for coming season, so that the same can be stressed on while planning a sensitisation campaign to encourage extensive production of the crop during next cultivation season.
He further stated that, they mean to temporarily end the Export Expansion Grant for one year from November this year, so as to meet with the regions local consumption needs and to ensure that the domestic industries have sufficient cotton lint to carry out with their production activities.
Sambo even emphasized on the need to convene a meeting with Governors of 19 northern states to plan cotton production for coming season, so that the same can be stressed on while planning a sensitisation campaign to encourage extensive production of the crop during next cultivation season.
He further stated that, they mean to temporarily end the Export Expansion Grant for one year from November this year, so as to meet with the regions local consumption needs and to ensure that the domestic industries have sufficient cotton lint to carry out with their production activities.
Fibre2fashion News Desk - India
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