• February 27, 2024

Grants Under Scrutiny

 Grants Under Scrutiny
Image: Piotr Pawinski

A corporate accountability group is urging Nigeria to investigate the Export Expansion Grant (EEG) awarded to tobacco companies by previous governments, reports the Daily Trust.

The EEG is a post-shipment incentive to encourage indigenous companies to expand the volume and value of their exports.

The Corporate Accountability and Public Participation Africa (CAPPA) made its call on Dec. 1, after the chairman of the Presidential Committee on Tax Reforms and Fiscal policy suggested that Nigeria’s administration of tax waivers fell short in terms of prudence and transparency.

“We demand a full and transparent inquiry into these shady waivers that have ripped the country of its revenues,” CAPPA Executive Director Akinbode Oluwafemi was quoted as saying. “More so, we are concerned about the benefits awarded to the tobacco industry under the Export Expansion Grant Scheme, and other untoward agreements which insult every Nigerian striving for a healthier and more equitable society’.’