Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Osinbajo decries CBN’s delay in disbursement of funds for ESP projects

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
October 12, 2021
in Business News, Spotlight
BOI secures N300 million loan for creative sector- Vice President, Nigerian leather exports could generate over $1 billion in 4 years - Osinbajo, Fuel Price: Nigerian Ports Authority should review port dues of PMS- Vice President
Share on FacebookShare on TwitterShare on Linkedin

Vice President Yemi Osinbajo has expressed disappointment with the Central Bank of Nigeria’s delay in disbursing funding for essential projects in the Economic Sustainability Plan.

This comes as he called on the Central Bank of Nigeria (CBN) to devalue the naira because currency rates are “artificially low”, according to PUNCH.

Osinbajo disclosed this at the Ministerial Performance Review retreat, organised to assess progress made towards the achievement of the nine key priorities of the regime, and presided over by President Muhammadu Buhari.

RelatedPosts

Nigeria’s central bank urges manufacturers to approach development financing institutions for loans

BDC operators urge central bank to abandon offical rate as Naira continues to fall

What the VP is saying

The Vice President said that “progress has been much slower than envisaged. There are continuing delays in the disbursement of funds from the CBN.

“The Debenture agreement for the sum of N200bn with the CBN which represents the bulk of the financing was agreed in April and has been signed by all.”

The Vice President listed the CBN’s unwillingness to disburse funds and public and private financial institutions’ risk aversion, particularly for power projects, as some of the major obstacles to the ESP Solar Electrification Program’s implementation, which aims to create jobs, grow the local solar industry, and deliver power to 5 million families in off-grid, under-served regions through new solar connections.

He said the ESP’s Agric plan was also experiencing funding difficulties. Only N14 billion of the N471 billion in loans to farmers across 14 agricultural value chains has been disbursed to commercial banks, according to Osinbajo.

He however, added that due to the late release for the wet farming season of 2021, farmers are yet to use the funds.

News continues after this ad


In case you missed it 

Nariametrics reported that  Vice President Yemi Osinbajo has urged the Central Bank of Nigeria (CBN) to allow the naira to reflect market realities.

Related

Tags: CBNCentral Bank of NigeriaEconomic Sustainability PlanProf. Yemi Osinbajo

Comments 1

  1. Terver Matthew says:
    June 7, 2022 at 6:20 pm

    The ideas of helping the less previlege it will put life in order so therefore CBN should not delay for disbursement most especially for sme and farmers to carry on still.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Sell-offs from MTN causes market to dip by N125 billion
    • Crypto-mixing service, Tornado Cash, blacklisted in the United States 
    • Buhari approves acquisition of Exxon Mobil shares by Seplat Energy

    Follow us on social media:

    Recent News

    Weekly Stock Update: Nigerian local bourse’s ASI depreciates by 0.22% w-o-w

    Sell-offs from MTN causes market to dip by N125 billion

    August 8, 2022
    Crypto-mixing service, Tornado Cash, blacklisted in the United States 

    Crypto-mixing service, Tornado Cash, blacklisted in the United States 

    August 8, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com