CBN Disburses N66bn To Manufacturing, Agricultural Sectors

The Central Bank of Nigeria says it has disbursed N66 billion to the manufacturing and agricultural sectors.

CBN Disburses N66bn To Manufacturing, Agricultural Sectors
CBN Disburses N66bn To Manufacturing, Agricultural Sectors

Godwin Emefiele, the bank’s governor, said this in a communique released after meeting with the monetary policy committee (MPC) on Tuesday.

Emefiele said under the bank’s real sector support facility (RSSF), a total of 426 projects across the country have received funding to the tune of ₦2.10 trillion.

“Under the real sector facility, the bank released the sum of ₦66.99 billion to 12 additional projects in manufacturing and agriculture. Cumulative disbursements under the real sector support facility (RSSF) currently stood at ₦2.10 trillion disbursed to 426 projects across the country,” he said.

“Furthermore, under the 100 for 100 policy on production and productivity (PPP), the bank disbursed the sum of ₦20.17 billion to 14 projects in healthcare, manufacturing, and services, bringing the cumulative disbursement under the facility to ₦93.39 billion to 62 projects.

”In the healthcare sector, ₦4.00 billion was disbursed to two (2) healthcare projects under the healthcare sector intervention facility (HSIF), bringing the cumulative disbursement to ₦130.54 billion for 131 projects, comprising of 32 pharmaceuticals, 60 hospitals and 39 other services.

“Under the export facilitation initiative (EFI), the bank funded several commodity projects in the non-oil export segment for value-addition and production to the tune of ₦3.24 billion, aside the ₦50.00 billion disbursed through the Nigerian Export Import Bank (NEXIM).”

Emefiele further said small-scale businesses also received support through its entrepreneurship development programme — the tertiary institutions entrepreneurship scheme (TIES).

According to him, in the micro, small and medium enterprise (MSME) sector, “the bank supported entrepreneurship development with the sum of ₦39.26 million under the c, bringing the total disbursement under this intervention to ₦332.43 million.”

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