CBN’s Intervention Funds To Private Sector Hits N4.4 Trillion As Of July 2022

0
128
CENTRAL BANK, LIBERALIZING

The Central Bank of Nigeria has disbursed a cumulative total of N4.4 trillion in intervention funds to the private sector of the Nigerian Economy as of July 2022.

The data was compiled from official statements contained in the monetary policy communique of the apex bank as tracked by SKYTREND NEWS.

According to the CBN, it has spent a total of N4.4 trillion on the following.

ABP – under the Anchor Borrowers’ Programme (ABP), the CBN has disbursed a cumulative of N1.01 trillion, to over 4.21 million smallholder farmers cultivating 21 commodities across the country.

CACs – Under the Commercial Agriculture Credit Scheme, the CBN has disbursed a cumulative of N744.32 billion for 678 projects in agro-production and agro-processing.

Real Sector Support – Cumulative disbursements under the Real Sector Facility for Manufacturers currently stands at N2.183 trillion for the financing of 414 real sector projects across the country.

The funds were utilized for both greenfield and brownfield projects under the COVID-19 Intervention for the Manufacturing Sector (CIMS) and the Real Sector Support Facility from Differentiated Cash Reserve Requirement (RSSF-DCRR).

100 for 100 Policy – under the 100 for 100 Policy on Production and Productivity,

Cumulative disbursements under the intervention are about N68.13 billion for 48 projects, comprising twenty-six (26) in manufacturing, seventeen (17) in agriculture, three (3) in healthcare and two (2) in the services sector.

Healthcare Sector – Cumulative disbursements stood at N133.42 billion for 129 projects, comprising seventy-six (76) hospitals, thirty-two (32) pharmaceuticals, and twenty-one (21) other healthcare services.

Power Sector - Cumulative disbursement under the NEMSF-2 currently stands at N254.46 billion. The money was given to Distribution Companies (DisCos) for their Operational Expenditure (OpEx) and Capital Expenditure (CapEx), under the Nigeria Electricity Market Stabilization Facility – Phase 2 (NEMSF-2)

Metering – A further N47.82 billion has been disbursed under the National Mass Metering Programme (NMMP), for the procurement and installation of 865,956 meters across the country.