Dis update dey announced for communiqué issued by di CBN Governor, Godwin Emefiele, after di last Monetary Policy Committee meeting wey dem hold for Abuja.

He yarn say as CBN don release N114bn under 100-for-100 policy, di funds dey expended on 71 projects across healthcare, manufacturing and agriculture sectors.

“Furthermore, under di 100 for 100 Policy on Production and Productivity, di Bank don release di sum of N20.78 billion to nine projects for healthcare, manufacturing, and services. Dis go bring di cumulative distributions under di facility to N114.17 billion to 71 projects across healthcare, manufacturing, services and agriculture,” Na wetin hi tyok be dat.

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Di CBN programme, launch in January 2022, and na for selected 100 private sector companies with projects wey get di potential to increase domestic production and productivity, reduce imports, increase non-oil exports, and overall improvements for foreign exchange and generating capacity of di Nigerian economy.

According to di guidelines for di implementation of di initiative, di CBN fix di maximum loan amount wey participant fit get for N5bn.

In collaboration with relevant stakeholders, di apex bank yarn say di initiative go dey implemented with a focus on micro- and macro-economic impacts. Also, dat one include di creation of sustainable jobs, di development of local content, production output, capacity utilisation and integration into global value chains.

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