The Central Bank of Nigeria, CBN, has disbursed a total of N23.2bn to 28 firms whose projects satisfied the apex bank’s criteria for 100 for 100 Policy for Production and Productivity.
It disclosed that this was after 243 firms submitted applications with
The CBN Governor, Godwin Emefiele, disclosed this in Abuja while
presenting the cheques to the beneficiary companies through seven
participating financial institutions.
The companies comprise 14 manufacturing firms, 12 agricultural
companies, and two healthcare firms.
The PPP is CBN’s policy initiative unveiled last year at the launch of the
E-naira initiative to accelerate manufacturing output, and promote
further diversification of the nation’s economy to enable faster growth of
non-oil exports.
Under the policy, eligible companies in priority sectors are to be
screened and 100 companies will be selected to receive funding from the
CBN every 100 days, beginning from November 1 2021.
The selection of subsequent beneficiaries will be rolled over every 100
days with new sets of 100 companies.
While appealing to the beneficiaries to note that the facility is not a grant
but a repayable loan, he said the next cycle for submission of
applications for the 100 for 100 PPP statrts on February 1, 2022, and
will end on April 30, 2022.
