Central Bank of Nigeria, Agriculture project, economic development

Central Bank of Nigeria finances 5 large-scale agriculture projects with N19.15bn

In line with its economic diversification blueprint, the Central Bank of Nigeria (CBN) released N19.15 billion to finance 5-large-scale agriculture 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.

Read also: Advancing together toward food sovereignty in 2022

Central Bank of Nigeria Governor

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

Central Bank of Nigeria, Agriculture project, economic diversification

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.

Read also: ‘Perfect storm’ created for global food collapse — chair, Academy of Global Food Economics and Policy

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.”

Central Bank of Nigeria, Agriculture project, economic development

The Choice Press
thechoicepress.com is an online news portal that seeks to project what the gallant small-scale farmers in Africa are doing. We basically report on everything that has to do with agriculture and agribusiness, especially in Ghana.
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