Connect with us


CBN gives breakdown of over N2trn Interventions disbursements into economy



Nigeria saved $21bn in food import since 2015 -CBN

The Central Bank of Nigeria (CBN) has provided a breakdown on the various interventions carried out to stimulate the economy.

CBN revealed this in its latest monthly update published on its website on Wednesday.

The interventions were directed at farmers, youths and electricity companies among others.

CBN noted that under its Anchor Borrowers Programme (ABP) the sum of N798.09 billion has been released to 3.9 million smallholder farmers cultivating 4.9 million hectares of land across the country.

Also, the apex Bank said it released the sum of N161.18 billion to 770,000 small-holder farmers cultivating seven (7) commodities on 1.10 million hectares across the country.

Under the Commercial Agriculture Credit Scheme (CACS) 657 largescale agricultural projects, have been supported to the tune of N708.39 billion.

The Bank also showed it had disbursed N134.57 billion to 38,140 beneficiaries under the Agribusiness/Small and Medium Enterprise Investment Scheme (AGSMEIS).

READ ALSO: CBN gives update on eNaira; to be usable on phone without internet, BVN, NIN compulsory

While through the Targeted Credit Facility (TCF), the sum of N343.21 billion was released to 726,198 beneciaries, comprising 602,730 households and 123,468 Small and Medium Enterprises.

Under the Real Sector Facility, the Bank noted it released the sum of 1.00 trillion to 269 real sector projects, of which 140 are in light manufacturing, 71 in agrobased industry, 47 in services and 11 in mining.

For Healthcare Sector Intervention Facility (HSIF), N103.02 billion has been disbursed for 110 health care projects, of which 27 are pharmaceutical, 77 hospitals, and 6 other healthcare service projects.

CBN also disclosed it disbursed a total of N145.99 billion under its Non-Oil Export Stimulation Facility (NESF).

Under the National Mass Metering Programme (NMMP), N41.06 billion has been disbursed to ten (10) DisCos, for the procurement and installation of 759,748 electricity meters.

Under the Nigerian Electricity Market Stabilization Facility 2 (NEMSF-2), the Bank has released the sum of N145.66 billion to 11 DisCos as loans to provide liquidity support and stimulate critical infrastructure investment to improve service delivery and collection efficiency.

CBN also said in furtherance of its intervention in the energy sector, N39.20 billion was disbursed to six (6) beneficiaries to improve gas-based infrastructure to support the Federal Government’s Auto-Gas Conversion Programme.

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now