In a follow up to Central Bank of Nigeria (CBN)’s drive to force growth through banks, the apex bank says it has released N35.9 billion to 166 projects under its Commercial Agriculture Credit Scheme (CAC).
The CBN Governor, Mr Godwin Emefiele, made this known at a meeting with vice chancellors of University-based Poultry Revival Programme in Abuja yesterday.
It will be recalled that the CBN last week asked banks to put aside 60 per cent of their total deposit for lending to the real economy.
Emefiele, represented by Dr Okwu Nnanna, the CBN Deputy Governor on Economic Policy, said the apex bank’s interventions such as the Commercial Agriculture Credit Scheme and the Real Sector Support Facility had addressed the problem faced appreciably.
He said that N507 million was also released to 433 farmers and another N238 million to 112 projects under Agri-Business Small and Medium Enterprises Investment Scheme.
Emefiele said that apart from these interventions, CBN had recently financed the pioneer egg-powder production company in Nigeria to the tune of N2 billion under the Differentiated Cash Reserve Requirement-Real Sector Support Facility (DCRR-RSSF) window.
Speaking on the poultry revival programme, he said “we have asked for information on the capacity of institutions and companies’ poultry pens, hatcheries, feed mills, size of crop farm and number of tractors for grains production.
“Others are commercially viable and bankable business plan; including processing facility as well as any other information that would enrich your participation in the programme.
“We rely on the University based poultry production model because you have the existing Infrastructure, experience and human assets to enable production at reduced cost and in a competitive manner.
