About the Initiative
The Central Bank of Nigeria CBN initiate a Policy on Production and Productivity through 100 Project for every 100 days.
This initiative is designed to create the flow of finance and investments to enterprises with potential to kickstart a sustainable economic growth trajectory, accelerate structural transformation, promote diversification, and improve productivity. It is a support to private sector companies with the aim of reducing certain imports, increasing non-oil exports and to improve the FX-generating capacity of the economy.
Objectives of the initiative
The broad objective of the initiative is to reverse the nation’s over-reliance on imports, by creating an ecosystem that targets and supports projects with potential to transform and catalyze the productive base of the economy. The specific objectives include:
- catalyse import substitution of targeted commodities;
- Increase local production and productivity;
- Increaseon-oil exports; and
- Improve foreign exchange earning capacity of the economy
Key Performance Indicators
A comprehensive, regular monitoring of specific benchmarks and key performance indicators (KPIs) under the initiative shall be undertaken regularly. The KPIs (specific and relevant) shall include:
- % increase in production output of financed companies;
- % increase in capacity utilisation;
- % increase in export volume and value;
- % decrease in import volume and value of industrial raw materials;
- Increase in number of jobs created.
Activities Covered
Focal activities shall be existing businesses and projects (brownfield) with potential to transform and jumpstart the productive base of the economy such as:
- Manufacturing
- Agriculture and agro-processing
- Extractive Industries
- Petro-Chemicals and Renewable Energy
- Healthcare and Pharmaceuticals
- Logistics Services and Trade-Related Infrastructure
- Any other activities as may be prescribed.
For loan type, loan tenor, collateral and repayment check the Official Application page here
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