CBN RELEASES N114 BILLION AS PART OF ITS 100-FOR-100 STRATEGY

CBN Governor Godwin Emefiele

According to the Central Bank of Nigeria (CBN), since the implementation of its 100-for-100 Policy on Production and Productivity in January of last year, N114.17 billion has been distributed to recipients.

It was revealed in a statement released by CBN Governor Godwin Emefiele following the most recent Monetary Policy Committee, MPC, meeting in Abuja.

He explained that 71 manufacturing, agricultural, and healthcare initiatives were funded using the money.

"Furthermore, under the 100 for 100 Policy on Production and Productivity, CBN has released N20.78 billion to nine healthcare, manufacturing, and services projects. It brings the total disbursements under the initiative to N114.17 billion into 71 projects across healthcare, manufacturing, services and agriculture," according to his statement.

The goal of the initiative is to promote private sector growth, and the CBN estimates that the maximum loan applicants might receive N5 billion.