Fakoyejo Olalekan
The intervention funds received so far by the private sector from the Central Bank of Nigeria (CBN) have increased to N4.81 trillion as of November 2022.
Prime Business Africa gathered that the funds were disbursed into several programmes; Real Sector Facility, Anchor Borrowers’ Programme (ABP), Commercial Agriculture Credit Scheme (CACS) and the Policy on Production and Productivity (PPP).
Join our WhatsApp ChannelOthers are Heathcare sector, Agribusiness/Small and Medium Enterprise Investment Scheme (AgSMEIS), Micro, Small, and Medium Enterprise Development Fund (MSMEDF), National Gas Expansion Programme (IFNGEP), amongst others.
Presently, the highest intervention fund has been disbursed to the real sector, which has received N2.15 trillion so far, through 437 projects; manufacturing sector (240), agriculture (91), services (93) and mining sector (13).
The next in line is the Anchor Borrowers’ Programme, under which over 4.6 million smallholder farmers, cultivating 21 commodities in Nigeria, have received N1.07 trillion, according to a communique from the Monetary Policy Committee (MPC) of the central bank.
CBN’s third highest disbursement went to the agricultural projects under the Commercial Agriculture Credit Scheme, allocating N745.31 billion.
Intervention fund into the power sector is N254.46 billion, the Agribusiness/Small and Medium Enterprise Investment Scheme has received N150.22 billion, and Healthcare accounts for N135.56 billion.
Also, the central bank granted N114.17 billion to 71 projects, which includes healthcare, manufacturing, and services, under the 100 for 100 Policy on Production and Productivity (PPP).
The MSMEDF obtained N96.06 billion, Metering received N47.82 billion, export-oriented projects under the Export Facilitation Initiative secured N44.58 billion, and the CBN provided N5 billion under the National Gas Expansion Programme.
I am not sure this figure is right and is dumbfoundedly false. The figure quoted is nearly 50% of National budget. If we have such to drive Our food system then we will be in El dorado