The Central Bank of Nigeria has disbursed N68.13bn to beneficiaries under its 100-for-100 Policy on Production and Productivity since the commencement of the intervention. According to the bank, the CBN Governor, Godwin Emefiele, disclosed this in Lagos after the last Monetary Policy Committee meeting. “Furthermore, under the 100 for 100 Policy on Production and Productivity, the Bank has released N9.98bn for five projects, bringing the cumulative disbursements under the intervention to N68.13bn for 48 projects, comprising 26 in manufacturing, 17 in agriculture, three in healthcare and two in the services sector,” he said. According to the guidelines for the implementation of the initiative, The CBN stated in the guideline that the initiative would select 100 private sector companies with projects that have potential to significantly increase domestic production and productivity, reduce imports, increase non-oil exports, and overall improvements in the foreign exchange generating capacity of the Nigerian economy. “The initiative, which shall be bank-led, will be rolled over every 100 days (that is, quarterly) with a new set of companies selected for financing under the initiative,” it stated.

Punch