• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Wednesday, May 28, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

CBN releases modalities to boost productivity

The Matters Press by The Matters Press
December 8, 2021
Reading Time: 2 mins read
0
Consumer commission, CBN, EFCC investigate violations in money lending

The Central Bank of Nigeria (CBN) on Tuesday released guidelines for its “Production and Productivity” initiative, through “100 projects for EVERY 100 days” project.

RELATED POSTS

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

Information in the apex bank’s website revealed that the initiative was designed to support the Federal Government ‘s drive towards boosting productivity and economic diversification.

It stated that a maximum loan of N5 billion per obligor would be approved under the initiative, adding that any amount above N5 billion would require special approval of its management.

According to the apex bank, the facility is a long-term loan for acquisition of plant and machinery, as well as working capital.

“The initiative will create the flow of finance and investments to enterprises with potential to kickstart 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,” it stated.

According to the CBN, 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 potentials to transform and catalyse the productive base of the economy.

“The specific objectives include: catalyse import substitution of targeted commodities; increase local production and productivity; increase non-oil exports; and improve foreign exchange earning capacity of the economy,” it stated.

It explained that a comprehensive, regular monitoring of specific benchmarks and Key Performance Indicators (KPIs)  under the initiative would be undertaken regularly.

“The KPIs shall include increase in production output of financed companies; percentage increase in capacity utilisation and percentage increase in export volume and value.

“It would also include decrease in import volume and value of industrial raw materials and Increase in the number of jobs created,” the apex bank stated.

It added that focal activities shall be existing businesses and projects (brownfield) with potential to transform and jumpstart the productive base of the economy.

“These include manufacturing, agriculture and agro-processing; extractive industries, petro-chemicals and renewable energy; healthcare and pharmaceuticals, logistics services and trade-related infrastructure; and any other activities as may be prescribed,” the CBN stated.

Tags: CBN
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Chevron, NNPC secure $1.4bn for drilling project
Economy/Technology

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

May 26, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

May 24, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
Economy/Technology

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

May 22, 2025
Eulogising Africa’s efforts in midwifing a Covid-19 vaccine
Economy/Technology

Nigeria’s ongoing health reform gets global endorsement with Pate’s honour by Time Magazine

May 21, 2025
Court visits Patience Jonathan’s money palaver
Economy/Technology

Patience Jonathan’s endorsement of Tinubu’s re-election, significant, inspiring

May 20, 2025
Nigeria suspends mining in Zamfara
Economy/Technology

Revival of mining sector causes increase in licensing fees in Nigeria

May 19, 2025
Next Post
Trading in Nigerian stock market dips further N83bn

Stock market rebounds by N5bn after persistent bearish trend

Nigeria loses $25b to foreign ship owners

Nigeria addressing problems facing marine transportation

Recommended Stories

Men may be 2.5 times more likely to die from COVID-19 than women

November 29, 2021
Buhari underscores the opportunities in a single African air transport

NCAA deepens effort to tackle fuel contamination

July 21, 2023
Intimidation, cyber-bullying by loan sharks

Intimidation, cyber-bullying by loan sharks

February 13, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms
  • Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG
  • Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us