SmartPreneur
Advertisement
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
SmartPreneur
No Result
View All Result
Home Trending News

CBN Says It has Disbursed N477.78 Billion To Support MSMEs In Nigeria

Blessing Osazuwa by Blessing Osazuwa
September 20, 2021
in Trending News
0
CBN increases SME intervention fund to N300 billion
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The CBN disbursed N134.57 billion to Agribusiness/Small and Medium Enterprise Investment Scheme (AGSMEIS), and for the Targeted Credit Facility (TCF), the sum of N343.21 billion. This is aimed at supporting MSMEs in Nigeria.

Join our communityJoin our communityJoin our community

This was disclosed in the “CENTRAL BANK OF NIGERIA COMMUNIQUÉ NO. 138 OF THE 281ST MONETARY POLICY COMMITTEE MEETING” which was held on Thursday, 16th and Friday, 17th, September 2021.

The Committee assessed the effectiveness of the apex bank’s measures in maintaining output growth and mitigating the risks of additional external and internal shocks to the economy. Manufacturing, agriculture, energy/infrastructure, and Micro, Small, and Medium Enterprises remained the focus of interventions (MSMEs).

What the CBN said

The apex bank highlighted its support to the MSMEs and also the real Real Sector.

The CBN said, “To support MSMEs across the country, the Bank disbursed N134.57 billion to 38,140 beneficiaries under the Agribusiness/Small and Medium Enterprise Investment Scheme (AGSMEIS), and for the Targeted Credit Facility (TCF), the sum of N343.21 billion has been released to 726,198 beneficiaries, comprising 602,730 households and 123,468 Small and Medium Enterprises.

“Under the Real Sector Facility, the Bank released the sum of N1.00 trillion to 269 real sector projects, of which 140 are in light manufacturing, 71 in agro-based industry, 47 in services and 11 in mining. Under the Healthcare Sector Intervention Facility (HSIF), N103.02 billion has been disbursed for 110 healthcare projects, of which 27 are pharmaceutical, 77 hospitals and 6 other healthcare service projects. The Bank has also disbursed a total of N145.99 billion under its Non-Oil Export Stimulation Facility (NESF). The CBN has revised the guidelines, working with Nigerian Export-Import Bank to improve access to the intervention and stimulate non-oil export growth in Nigeria.”

What you should know

The CBN in the past has made many efforts to boost access to credit for Micro, Small and Medium Enterprises (MSMEs). Last month, the apex bank developed guidelines for the regulation and supervision of credit guarantee companies in Nigeria.

The guideline would serve as a regulatory foundation for credit guarantee firms seeking to minimize credit risk, promote lower interest rates on loans, and complement other regulatory measures targeted at promoting MSMEs.

The CBN, through NIRSAL Microfinance Bank, has reopened its portal for Micro, Small and Medium Enterprises (SMEs) and households affected by COVID-19 to access up to N25 million.

Nairametrics

Tags: AGSMEISCOVID-19Godwin EmefieleTargeted Credit Facility
Previous Post

Nigeria To Lift Twitter Ban Very Soon, Says Lai Mohammed

Next Post

Opinion: A State-controlled VAT System will Slow MSME Growth in Nigeria

Blessing Osazuwa

Blessing Osazuwa

Blessing does the research to bring you needed information for success.

Related Posts

Chinazom Arinze
Hustle life

How I saved my company from making a 30 million naira loss – Chinazom Arinze

by Ruth Okwumbu-Imafidon
March 29, 2023
0

Money is the lifeblood of any business, and while looking for ways to make money, entrepreneurs have to proactively look...

Read more
Twitter will be removing Blue Ticks from April 1, 2023
Trending News

Twitter will be removing Blue Ticks from April 1, 2023

by Ruth Okwumbu-Imafidon
March 28, 2023
0

From April 1, 2023, Twitter will be phasing out its "legacy verified programme" and removing some "legacy verified checkmarks". Users...

Read more
How to build business partnerships that last a lifetime
Trending News

7 things investors want to see in your Pitch Deck / Presentation

by Ruth Okwumbu-Imafidon
March 27, 2023
0

If you are at the point in your entrepreneurial journey where you have to seek funding from investors, then you...

Read more
Win Free Product Shoot In the #CaptureMyBusiness Challenge
Trending News

Win Free Product Shoot In the #CaptureMyBusiness Challenge

by Blessing Osazuwa
March 24, 2023
0

Smartpreneur, in partnership with Emblue Space and Studios, is offering an opportunity for female business owners to take their businesses...

Read more
Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31
Trending News

Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

by Ruth Okwumbu-Imafidon
March 24, 2023
0

In today's fast-paced and rapidly changing economy in the country and the globe, it has become more important for today’s...

Read more
Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.
Trending News

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

by Ruth Okwumbu-Imafidon
March 22, 2023
0

Nigerians using MailChimp will have to pay 7.5% more from April 20, 2023, as the company is set to implement...

Read more
The New CBN Cash Withdrawal Policy; What will happen to MSMEs now?
Trending News

CBN Increases Lending Rate to 18%

by Ruth Okwumbu-Imafidon
March 22, 2023
0

In an aggressive push to contain the nation’s inflationary pressure, the Central Bank of Nigeria on Tuesday raised its benchmark...

Read more
Load More
Next Post
Opinion: A State-controlled VAT System will Slow MSME Growth in Nigeria

Opinion: A State-controlled VAT System will Slow MSME Growth in Nigeria

Please login to join discussion

Recent News

7 Things to Normalize in Your Daily Business Operations

7 Things to Normalize in Your Daily Business Operations

March 29, 2023
Chinazom Arinze

How I saved my company from making a 30 million naira loss – Chinazom Arinze

March 29, 2023
Twitter will be removing Blue Ticks from April 1, 2023

Twitter will be removing Blue Ticks from April 1, 2023

March 28, 2023
How to build business partnerships that last a lifetime

7 things investors want to see in your Pitch Deck / Presentation

March 27, 2023
SmartPreneur

© 2020 SmartPreneur

Navigate Site

  • Home
  • Trending News
  • Radio
  • Games & Quizzes
  • TV

Follow Us

No Result
View All Result
  • Home
  • Trending News
  • Radio
  • TV
  • Hustle Life
  • Brand Insights
  • Profiles
  • Game & Quizzes
  • Weekend Teaser

© 2020 SmartPreneur