From Uche Usim, Abuja
The Central Bank of Nigeria (CBN) disclosed on Thursday that cumulative disbursements under the Real Sector Support Facility (RSSF) currently stand at N2.1 trillion disbursed to 426 projects across the country.
CBN spokesman Mr Osita Nwanisobi made the disclosure at the ongoing 17th Abuja International Trade Fair.
According to him, N20.17 billion was recently disbursed to 14 projects in healthcare, manufacturing, and services, bringing the cumulative disbursement under the 100 for 100 Policy on Production and Productivity (PPP) to N93.39 billion to 62 projects.
He added that the bank has continued to support the creation of an export-ready market, especially those that would add to Nigeria’s economic growth and development, through her interventions in different sectors of the economy.
“For the records, under the Real Sector Facility, the bank released the sum of ₦66.99 billion to 12 additional projects in manufacturing and agriculture. In the Micro, Small and Medium Enterprises (MSME) sector, the bank supported entrepreneurship development with the sum of N39.26 million under the Tertiary Institutions Entrepreneurship Scheme (TIES), bringing the total disbursement under the intervention to N332.43 million.
“Over the years, the Central Bank of Nigeria has initiated interventions aimed at boosting the fortunes of Small and Medium Enterprises (SMEs) in Nigeria, These include the SME Credit Guarantee Scheme (SMECGS); the Micro, Small and Medium Enterprises Development Fund (MSMEDF): the Youth Entrepreneurship Development Programme (YEDP); and the Agribusiness/Small and Medium Enterprises Investment Scheme (AGSMEIS).
Similarly, the bank initiated the Entrepreneurship Development Centres (EDCs), National Collateral Registry (NCR), the Creative Industry Financing Initiative (CIFI), the Targeted Credit Facility (TCF), the Nigeria Youth Investment Fund (NYIF) and the Tertiary Institutions Entrepreneurship Scheme (TIES), amongst others,” he explained.