BREAKING: CBN MPC hikes interest rate to 17.5%
Godwin Emefiele, CBN governor

Adebayo Obajemu

The Central Bank of Nigeria (CBN) recently said that it has released N2.1 trillion to support the real sector of the economy. About 426 projects were funded across the country.

The apex bank said it has also released N66.99 billion to 12 additional projects in manufacturing and agriculture.

Under the ‘100 for 100 Policy’ on Production and Productivity (PPP), the apex bank 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.

CBN 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.

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