Agric and manufacturing are in the real sector which also includes mining, services, et cetera
By Jeph Ajobaju, Chief Copy Editor
Real sector outlay of 15 projects in agriculture, manufacturing, mining, and services has received N151.23 billion loans from the Central Bank of Nigeria (CBN) as part of its N300 billion intervention at the behest of Abuja to grow the economy.
Part of the N300 billion is ring-fenced to fund startups and expand projects of large enterprises of N500 million up to a maximum of N10 billion.
Sums disbursed are contained in the latest communique of CBN Monetary Policy Committee (MPC) which reviewed the effectiveness of intervention in several sectors, including
- Manufacturing/industries
- Agriculture
- Energy/infrastructure
- Healthcare
- Micro, Small and Medium Enterprises (MSMEs)
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Sectoral disbursements
The CBN said:
Funds were utilised for both greenfield and brownfield (expansion) projects under the Covid-19 Intervention for the Manufacturing Sector (CIMS) and the Real Sector Support Facility from Differentiated Cash Reserve Requirement (RSSF-DCRR).
Total disbursement under Real Sector 5 Facility stands at N1.40 trillion for 331 projects across the country, per Nairametrics reporting.
Two healthcare projects under the Healthcare Sector Intervention Facility (HSIF) received N498.00 million.
That brings cumulative disbursements to N108.85 billion for 118 HSIF projects, comprising pharmaceuticals (31), hospitals (82), and other services (4).
N20.29 billion was disbursed to 40,521 Targeted Credit Facility (TCF) beneficiaries, comprising households (35,340) and small businesses (5,181).
That brings total TCF disbursements to N369.78 billion for 777,666 beneficiaries, comprising households (648,052) and small businesses (129,614)
N293 million was advanced to 59 beneficiaries under the Tertiary Institutions Entrepreneurship Scheme (TIES) to promote youth entrepreneurship.
N75.99 billion was disbursed to support cultivation of over 383,000 hectares of maize, rice, and wheat.
That brings cumulative disbursements under the scheme to N927.94 billion for more than 4.5 million smallholder farmers cultivating 21 commodities between November and December 2021, under the Anchor Borrowers’ Programme (ABP).
N1.76 billion was released to finance two large-scale agricultural projects under the Commercial Agriculture Credit Scheme (CACS).