CBN Disburses N114bn Under 100-for-100 Policy

The Central Bank of Nigeria, CBN, said it had released N114.17 billion to beneficiaries under its 100-for-100 Policy on Production and Productivity since its commencement in January last year.

It was disclosed in a communiqué issued by the Governor of CBN, Godwin Emefiele, after the last Monetary Policy Committee, MPC, meeting held in Abuja.

He explained that the funds were expended on 71 manufacturing, agriculture and healthcare projects.

“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,” he said.

The initiative is to spur private sector growth; CBN says the maximum loan beneficiaries could get N5 billion.