Nigeria: CBN disbursed N145 billion under its non-oil export stimulation facility

The Central Bank of Nigeria has disbursed a total of N145.99 billion under its Non-Oil Export Stimulation Facility (NESF).

This was disclosed in the CENTRAL BANK OF NIGERIA COMMUNIQUÉ NO. 138 OF THE 281ST MONETARY POLICY COMMITTEE MEETING.

The apex bank through a series of interventions has tried to reduce the hardship and boost economic growth by promoting other lagging sectors.

According to the CBN, “The Bank has 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.”

The apex bank has also played a substantial role in the development of the real sector, as it stated that, “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.”

There was also a similar intervention in the health sector, as the CBN stated “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.”