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NEPC Supports Fashion Industry With N500m Grant

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The executive director and chief executive of Nigerian Export Promotion Council (NEPC), Olusegun Awolowo, has announced a N500 million grant towards

This, he said, is part of efforts to reduce Nigeria’s reliance on oil. Delivering his keynote address at the Fashion Business Series of the 2021 Lagos Fashion Week, Awolowo said that the NEPC is working towards the zero oil plan of the country.“The zero oil plan has one major mandate, which is that: Nigeria can and must survive in a world in which she no longer sells oil.

“It is therefore no surprise we value the textile and apparel sector as a viable contributor to the economy and mainstay of the council’s zero oil plan for diversifying the Nigerian economy,” he stated. He noted that the NEPC under the Export Expansion Facility Programme umbrella has set aside a N500 million grant to support the fashion industry.Designed under the Nigerian Economic Sustainability Plan to ease the impact of COVID 19 on Nigerian businesses, the aims to play a pivotal role in implementing interventions that address capacity gaps, promote export inclusion, market access, and minimize logistical, payments and export trade facilitation challenges.

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