The Central Bank of Nigeria (CBN) has revealed that it disbursed a total of N106.96 billion to 27,956 beneficiaries of Agri-Business Small and Medium Enterprise Investment Scheme (AGSMEIS).
This information is contained in a recent communique from the last MPC report of the CBN.
Recall that Nairametrics had earlier reported the expansion of AGSMEIS beneficiaries to 14,638. In lieu of this, the recent figures show a remarkable improvement of an additional 13,318 beneficiaries.
The apex also revealed that it has disbursed a total of N2.0 trillion as at January 2021. Other key disbursements are;
- The disbursement of N192.64 billion to 426,016 households and small businesses under the COVID-19 Targeted Credit Facility (TCF).
- The disbursement of N72.96 billion to the Health Care Support Intervention Facility, directly impacting about 73 projects which comprises of 26 pharmaceutical projects and 47 hospitals and health care services projects in the country.
- In a bid to support the provision of employment opportunities, the apex bank provided financial support of N3.12 billion to 320 beneficiaries under the Creative Industry Financing Initiatives and N268 million to 395 beneficiaries under the Nigerian Youth Investment Fund.
- The apex bank also provided N18.58 billion for the procurement of 347,853 electricity reading meters to Discos, in a bid to support the National Mass Metering Programme.
What you should know
- The Agri-Business/Small and Medium Enterprise Investment Scheme is a Federal Government initiative aimed at supporting efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs) in Nigeria, with the long-run goal of achieving sustainable economic development and employment generation.
- With the CBN AGSMEIS Loan, one can access up to N10M at 5% per year without collateral.