CBN Disburses N44 Billion Export Intervention Loans

As of October 2022, the Central Bank of Nigeria’s intervention funds under its Export Facilitation Initiative has risen to N44.58 billion

The bank disclosed this in statements released at its last Monetary Policy Committee meeting in 2022.

“Under the Export Facilitation Initiative, the Bank provided support for export-oriented projects to the tune of N5.34 billion, such that the cumulative disbursement under this intervention stands at N44.58 billion,” it stated.

The Bank said it released N48.3 billion under the N1 trillion Real Sector Facility to seven new real sector projects in agriculture, manufacturing, and services.

Cumulative disbursement under this facility currently stood at N2.15 trillion to 437 projects across the country, comprising projects in manufacturing (240), agriculture (91), services (93) and mining sector (13).

It added that under the 100 for 100 Policy on Production and Productivity, the Bank disbursed N20.78 billion to nine projects in healthcare, manufacturing, and services.

The cumulative disbursement under the facility amounted to N114.17 billion in 71 projects.

It further disclosed that it disbursed N4 billion under the Intervention Facility for the National Gas Expansion Programme to promote the adoption of compressed natural gas for transportation and liquefied petroleum gas for cooking.

In the healthcare sector, the bank said it also disbursed N5.02 billion to four healthcare projects under the Healthcare Sector Intervention Facility, bringing the cumulative disbursement to N135.56 billion for 135 projects in pharmaceuticals (33), hospitals (60) and other services (42).

Under the Micro, Small and Medium Enterprises sector, the Bank provided support for entrepreneurship development with the disbursement of N1.33 billion and N10 million under the Agribusiness/Small and Medium Enterprise Investment Scheme and Micro, Small, and Medium Enterprise Development Fund, respectively.

The total disbursement under these interventions amounted to N150.22 billion and N96.08 billion, respectively.