CBN Finances 5 Large-Scale Agric Projects With N19.15bn

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In line with its economic diversification blueprint, the Central Bank of Nigeria (CBN) released N19.15 billion to finance 5large-scale agricultural projects under the Commercial Agriculture Credit Scheme. The latest effort brings the total disbursements under the Scheme to ₦735.17 billion for 671 projects in agro-production and agro-processing.

The CBN Governor, Mr. Godwin Emefiele, made the revelation in Abuja at the last Monetary Policy Committee meeting.

According to him, the bank also disbursed ₦428.31 billion under the ₦1.0 trillion Real Sector Facility to 37 additional projects in the manufacturing, agriculture, and services sectors.

Emefiele further revealed that cumulative disbursements under the Real Sector Facility currently stand at ₦1.75 trillion, disbursed to 368 projects across the country. “Under the 100 for 100 Policy on Production and Productivity (PPP), the Bank has disbursed the sum of ₦29.51 billion to 31 projects, comprising 16 in manufacturing, 13 in agriculture, and 2 in healthcare.

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