Apply: CBN Approves N2.1trn For Manufacturing, Agric, Healthcare
The Central Bank of Nigeria (CBN) has released N2.1 trillion to support the real sector of the economy, the bank announced at the weekend.
The intervention fund sheet of the apex bank said the funds, which came under the the Real Sector Support Facility (RSSF) were disbursed to 426 projects across the country.
The apex bank said it has also released N66.99 billion to 12 additional projects in manufacturing and agriculture.
Also, under the ‘100 for 100 Policy’ on Production and Productivity (PPP), the apex bank said it disbursed N20.17 billion to 14 projects in health care, manufacturing, and services, bringing the total disbursement under the facility to N93.39 billion for 62 projects.
Another N4 billion was disbursed to two projects under the Health care Sector Intervention Facility (HSIF), bringing the total disbursement to N130.54 billion for 131 projects, comprising 32 pharmaceuticals, 60 hospitals and 39 other services.
The regulator said it funded commodity projects in the non-oil export segment for value-addition and production to the tune of N3.24 billion under the Export Facilitation Initiative (EFI). There was also N50 billion disbursed through the Nigerian Export Import Bank (NEXIM).
In the Micro, Small and Medium Enterprise (MSME) sector, the CBN supported entrepreneurship development with N39.26 million under the Tertiary Institutions Entrepreneurship Scheme (TIES), bringing the total disbursement under this intervention to N332.43 million.
Under the Intervention Facility for the National Gas Expansion Programme (IFNGEP), the apex bank disbursed N1 billion to support the adoption of Compressed Natural Gas (CNG) as the preferred fuel for transportation and Liquefied Petroleum Gas (LPG) as the preferred cooking fuel.