Central Bank of Nigeria, CBN’s 100 for 100 PPP – Policy on Production and Productivity Initiative, will make a loan limit of five billion naira maximum available for private sector operators.
The apex bank announced N5 billion as the maximum loan amount while installing guidelines for implementing the initiative published on its website.
Part of the guidelines reads: “Loan amount shall be a maximum of N5 billion per obligor,” adding that payment above five billion will require the go-ahead from the Central bank of Nigeria’s Management team.
The publication also indicated that there would be an attached interest rate under the intervention not more than five per cent per annum (all-inclusive) up to February 28, 2022, among other requirements.
Also, it emphasized projects that can significantly increase domestic production, productivity, the ability to cut down importation level, increase non-oil exports, and guarantee overall improvements in the foreignexchange generating capacity of the Nigerian economy.