Anchor Borrower Scheme created over 12.5m jobs –CBN –

Anchor Borrower Scheme created over 12.5m jobs –CBN – The Sun Nigeria

From Magnus Eze, Enugu


No fewer than 12.5million direct and indirect jobs have been created through the Anchor Borrowers’ Programme of the Central Bank of Nigeria (CBN).

The bank disclosed that it has disbursed N948 billion to 4, 478, 381 smallholder farmers who cultivated 5.2 million hectares of farmland across the country.

Director, Corporate Communications Department of CBN, Osita Nwanisobi, stated this at the weekend during the Bank’s Special Day at the ongoing 33rd Enugu International Trade Fair.

Nwanisobi further said that the bank had specifically disbursed N1.452 trillion to 337 large real sector projects in agriculture, manufacturing, services, and mining under the Real Sector Support Facility as part of the effort to diversify the nation’s economic base.

He listed other interventions the apex bank had taken to revive the economy and create access to credit, stating that the CBN had extended the interest rate of 5 per cent across all its intervention loans to March, 2023.

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He said: “The recently launched Tertiary Institutions Entrepreneurship Scheme (TIES) is an innovative financing model that will create jobs, enhance the entrepreneurial ecosystem and support economic growth and development through Agribusiness, Creative Industry, Science & Technology and Information Technology/software development.

“The broad objective of the 100 for 100 Policy on Production and Productivity (PPP) is to boost production and productivity, necessary to transform and jumpstart the productive base of the Nigerian economy.

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