The Central Bank of Nigeria (CBN), says it has released the sum of N756.51 billion to 3,734,938 smallholder farmers, cultivating 4.6 million hectares of land, to boost the Federal Government’s food security initiative.
Mr Godwin Emefiele, the CBN Governor, made this known while presenting a communiqué from the bank’s recently held, 280th meeting of its Monetary Policy Committee .
Emefiele revealed that the apex bank also expended huge sums in its youth investment scheme, to empower Nigerian youths, and to reduce unemployment by providing to the creative sector and Information Technology.“Under the National Youth Investment Fund , the Bank released N3.0 billion to 7,057 beneficiaries, of which 4,411 were individuals and 2,646 SMEs.
The CBN Governor also revealed that the apex bank had invested close to N1trillion to boost the real sector of the economy, covering 251 real sector projects. “Under the N1.0 trillion Real Sector Facility, the Bank released N923.41 billion to 251 real sector projects, of which 87 were in light manufacturing, 40 in agro-based industry, 32 in services and 11 in mining.“On the N100 billion, Healthcare Sector Intervention Facility , N98.41 billion was disbursed for 103 health care projects, of which, 26 are pharmaceuticals and 77 are in the hospital services.
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