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The post-COVID-19 era is expected to be filled with a lot of uncertainties and challenges especially in developing countries like Nigeria.
In preparation for post events, the Central Bank of Nigeria (CBN), has warned of the need for the country to act faster so as to enable faster economic recovery.
In order to achieve this, the apex bank has taken some proactive measures aimed at four strategic sectors that would support mass employment and wealth creation in the country.
(READ MORE: CBN to finance renewable energy initiatives, sets up N500 billion fund for manufacture)
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The four areas of focus by the CBN are:
- Provision of affordable housing: Here the CBN will create an intervention fund which will target housing construction by developers who provide proof of profiled off-takers with the capacity to repay the loan. The BVN will be used to verify the information given by the off-takers before the developers can access the facility. The CBN will also assist the mortgage finance sub-sector, assist land administration agencies at the states to build capacity for prompt processing and issuance of land titles.
- Renewable energy: The CBN, over the next three years will be providing financial support to environmentally friendly energy production, as this has tangential long term health benefits.
- Cutting edge research: Also, the bank will be providing funding and encouraging effort aimed at driving innovation and research in every sector through our universities, research institutions, creative industry initiatives and so on.
- Light manufacturing: In order to pursue substantial economic renewal, the CBN intends to close the funding gap needed for the replacement of machinery and equipment in order to enhance local production. The apex bank plans to set up an N500 billion intervention fund over a medium and targeted at manufacturing firms for the procurement of state of the art machinery and equipment and automated manufacturing models that would fast track local production. It will also help increase the patronage of locally processed products.
what about healthcare? i thought healthcare would have been an obvious choice.
Healthcare cannot be sustainable under this our condition. Power has to be cleared before it can be sustainable.
At Mr Toofiq Adeniyi
You are absolutely correct.
There can be no sustainability without power, as a matter of fact it should be the first priority to all the above mentioned sectors
What’s the meaning of the handshake? Are they trying to tell us that they’re beyond the covid19 they’re talking about? Or is it another form of the fake news Lie Mohammed is talking about
Nairametric editorial sound as a solid plans for our economy improvement but what is the main purpose, Sim and plans for this? Andhow will the public, especially the poor masses, which are the low class going to benefit from this Maura metric editorial plans.
Another sweet story , then they will say the office caught fire or a snake swallowed the money or better still the elephant in the first bank sign post swallowed the bank . GREAT NIGERIA, GREAT, FUCK THEM
You are fools.
This government is a scam and lacks the least bit of credibility.
What is this nonsense about? Just grammar and no substance.
The day you’ll face Nigerians Mubarak will be better than you.
How can you talk rubbish and not even include electric power, which is the principal wheel that drives economic growth. Give us power and we can grow ourselves. But here you are talking senseless trash.
FAKE GOVERNMENT DISHING OUT FAKE NEWS TO THOSE WHO’LL SOON HOLD THEM RESPONSIBLE. YOUR DAY OF RECKONING IS FAST APPROACHING
What of Agriculture?
Nigerian! Nigeria!!Nigeria!!! How many times did i call you. It is obvious you dont have a future.
1. Affordable housing, for the rich or for the poor?
2. Renewable energy i hear, how much have you budgeted over the years for power supply yet we cannot boast of 24hours power supply
3.cutting edge research yet the revitalization act you signed with ASUU since 2009 is yet to be fulfilled
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.
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Well lets watch and see the game unfold
I am totally discouraged and realized that we have no future as a people through your unrealistic policies and unwarranted logics towards the unending crisis and deplorable nature of our environment and nation Nigeria.
I began to ask myself series of questions after I have sent scores of letters to you with their futility responses.
I published my first 35books that were considered instrumental to the development of the economy through their assessment and approval by some of the state government and the federal ministry of education with their proof of approval to you, but to my surprise, none of the attempts were considered by the illiterates considered literates.
Definitely, something is wrong with us as a people, there is no doubt! We often count the things that should open up avenues for destinies to create their potencies for development insignificant.
We are monotonous in thinking and regression in conceptual thinking.
I tend to ask myself, what nature of curse had inflicted us as a whole?
We are not often quick in identifying what can bring up development in the society because of the nature of academics acquaintance we are privileged to go through.
I think giving the utmost future for the values that can reshape our world should be the ultimate consideration now, but reverse is always the case.
The sets of the individuals that are caught up with the expensive vision that should translate to increase are decreased till their foresights are absolutely vanished and unproductive.
I left banking sector, and I was told that I would be frustrated with my beautiful agenda to make impact in the economy as an economist; the whole negative insinuation have come to pass, despite that I quite have the massive believe that no amount of discouragement can derail me. I am not discouraged to the tune of forfeiting my future and vision, but of the detest to effort with futility.
Sincerely, to compare and contrast my worth in term of everything with most of the imbeciles of knowledge that had been causing stagnation on the project to make impact,it is definite that most of them will never be seen at the point of evaluation,but might be richer because of their monthly salary and corruption.
If the right logics and policies are made without their implementation in the direction of the vital importance, they will be best for not being made.
There are some creative tasks and innovative ideas that must be supported under must to effect economic transformation. When they are left, the mere school goers or the set of the people that have gone to the school to acquire certificate base on the position they want to occupy or that primarily centred on how to survive will never get them actualized or think of them to do.
The greatest mistake that can keep a nation on the spot is not to think of creativity; it turns an economy to servicing nation other than productive nation.
I would not like to be rude or to polute the minds of the populace…..we must wake up!
We do not need to go out of the country before we are celebrated!
A word is sufficient for a wise..
Will need money to feed, as Nigeria