WED. 22 MARCH 2023-theGBJournal | The Central Bank of Nigeria (CBN) at its recent Monetary Committee Meeting (MPC) reviewed the performance of the various interventions aimed at stimulating production and productivity across the real sector.
The apex bank between January and February 2023, disbursed N12.65 billion to three agricultural projects under the Anchor Borrowers’ Programme (ABP), bringing the cumulative disbursement under the Programme to N1.09 trillion to over 4.6 million smallholder farmers cultivating or rearing 21 agricultural commodities on an approved 6.02 million hectares of farmland across the country.
The Bank also released the sum of N23.70 billion under the N1.0 trillion Real Sector Facility to eight new real sector projects in agriculture, manufacturing, and services. Cumulative disbursements under the Real Sector Facility currently stands at N2.43 trillion, disbursed to 462 projects across the country, comprising 257 manufacturing, 95 agriculture, 97 services and 13 mining sector projects.
And under the 100 for 100 Policy on Production and Productivity (PPP), the Bank also released N3.01 billion under the Nigerian Electricity Market Stabilisation Facility (NEMSF-2) for capital and operational expenditure of distribution companies (Discos) aimed at improving their liquidity status and aid their recovery of legacy debt.
This brings the cumulative disbursement under the facility to N254.39 billion
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