Manufacturers to Receive Credit Relief on Past Four FOB Payments

The Federal Government hasn’t announced plans to grant manufacturers credit relief on their last four Free On Board (FOB) export payments, a measure aimed at easing cash flow pressures and boosting competitiveness in international trade.

Under the relief scheme, exporters whose payments for FOB shipments over the past four quarters have lagged or accumulated interest will be allowed to defer, restructure, or be excused from certain financial penalties. The initiative is intended to help reduce debt burdens and encourage more manufacturers to export.

Officials say the relief is part of a broader economic support package targeting the export sector and is expected to revive manufacturing activity that has been constrained by foreign exchange volatility, high production costs, and stiff global competition. Access to the relief will be contingent on meeting compliance conditions and regulatory audits of export records.

The government has directed relevant agencies—including the Central Bank, the Nigeria Export Promotion Council (NEPC), and the Ministries of Trade and Industry—to publish the detailed framework, eligibility criteria, and implementation timeline in the coming weeks.

Manufacturers and exporters welcomed the announcement, saying it could restore investor confidence and improve liquidity. However, they also urged swift and transparent rollout to avoid delays or bureaucratic bottlenecks that may erode the benefit.

Oshuniran Sheriff Ola