AGSMEIS: CBN Disburses N121.57bn to Beneficiaries – The Central Bank of Nigeria (CBN) has said that it disbursed the sum of N121.57 billion to 32,617 beneficiaries under the Agribusiness/Small and Medium Enterprise Investment Scheme (AGSMEIS).
This was shared by the apex bank on Tuesday through a communiqué after its Monetary Policy Committee (MPC) meeting in Abuja.
In the communiqué, the CBN also disclosed that 3,734,938 smallholder farmers received N756.51 billion.
It read, “Under the CBN’s development finance initiatives, the Bank granted N756.51 billion to 3,734,938 smallholder farmers cultivating 4.6 million hectares of land, of which N120.24 billion was extended for the 2021 Wet Season to 627,051 farmers for 847,484 hectares of land under the Anchor Borrowers’ Programme (ABP).
“For the Agribusiness/Small and Medium Enterprise Investment Scheme (AGSMEIS), the sum of N121.57 billion was disbursed to 32,617 beneficiaries, and for the Targeted Credit Facility (TCF), N318.17 billion was released to 679,422 beneficiaries, comprising 572,189 households and 107,233 Small and Medium Scale Enterprises (SMEs).
“Under the National Youth Investment Fund (NYIF), the Bank released N3.0 billion to 7,057 beneficiaries of which 4,411 were individuals and 2,646 SMEs. Under the Creative Industry Financing Initiative (CIFI), N3.22 billion was disbursed to 356 beneficiaries across movie production, movie distribution, software development, fashion, and IT verticals.
“Under the N1.0 trillion Real Sector Facility, the Bank released N923.41 billion to 251 real sector projects, of which 87 were in light manufacturing, 40 in agro-based industry, 32 in services, and 11 in mining.
“Similarly, the sum of N232.54 million was disbursed to five beneficiaries under the CBN Healthcare Sector Research and Development Intervention (Grant) Scheme (HSRDIS) for the development of testing kits and devices for COVID-19 and Lassa fever.
“On the National Mass Metering Programme (NMMP), N36.04 billion was disbursed to 17 Meter Asset Providers and nine DisCos for the procurement and installation of 657,562 electricity meters.
“While the Nigerian Electricity Market Stabilization Facility – 2 (NEMSF-2), the CBN released N120.29 billion to 11 DisCos to provide liquidity support and stimulate critical infrastructure investment needed to improve service delivery and collection efficiency.”The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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