CBN Releases N2.1trn For Manufacturing, Healthcare, Others

The Central Bank of Nigeria (CBN) has released N2.1 trillion to support the real sector, the bank has announced.

The apex bank said the funds, which came under the the Real Sector Support Facility (RSSF) were disbursed to 426 projects across the country.

The apex bank said it recently released N66.99 billion to 12 additional projects in manufacturing and agriculture.

Also, under the 100for100 Policy on Production and Productivity (PPP), the apex bank said it disbursed N20.17 billion to 14 projects in healthcare, manufacturing, and services, bringing the cumulative disbursement under the facility to N93.39 billion to 62 projects.

In the healthcare sector, N4 billion was disbursed to two healthcare projects under the Healthcare Sector Intervention Facility (HSIF), bringing the disbursement to N130.54 billion for 131 projects, comprising 32 pharmaceuticals, 60 hospitals and 39 other services.

The regulator said it funded several commodity projects in the non-oil export segment for value-addition and production to the tune of N3.24 billion under the Export Facilitation Initiative (EFI). There was also N50 billion disbursed through the Nigerian Export Import Bank (NEXIM).

In the Micro, Small and Medium Enterprise (MSME) sector, the CBN supported entrepreneurship development with N39.26 million under the Tertiary Institutions Entrepreneurship Scheme (TIES), bringing the total disbursement under this intervention to N332.43 million.

Under the Intervention Facility for the National Gas Expansion Programme (IFNGEP), the apex bank disbursed N100 billion to support the adoption of Compressed Natural Gas (CNG) as the preferred fuel for transportation and Liquefied Petroleum Gas (LPG) as the preferred cooking fuel.

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