The nation
CBN releases N756bn to over 3m farmers – Emefiele
The Central Bank of Nigeria, CBN, says it has released the sum of N756.51 billion to 3,734,938 small holder farmers, cultivating 4.6 million hectares of land, to boost the Federal Government’s food security initiative.
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 (MPC).
Emefiele said that N120.24 billion of the sum was extended for the 2021 wet season to 627,051 farmers for 847,484 hectares of land, under the Anchor Borrowers’ Programme (ABP).
“The sum of N121.57 billion was disbursed to 32,617 beneficiaries.
“For the Targeted Credit Facility (TCF), N318.17 billion was released to 679,422 beneficiaries, comprising 572,189 households and 107,233 Small and Medium Scale Enterprises (SMEs),’’ he said.
Mr 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 (NYIF), the Bank released N3.0 billion to 7,057 beneficiaries, of which 4,411 were individuals and 2,646 SMEs.
“Under the Creative Industry Financing Initiative (CIFI), N3.22 billion was disbursed to 356 5 beneficiaries across movie production, movie distribution, software development, fashion, and IT verticals,’’ he said.
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.
He said that the bank’s intervention also spanned health sector support initiatives and electricity distribution.
“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 (HSIF), N98.41 billion was disbursed for 103 health care projects, of which, 26 are pharmaceuticals and 77 are in the hospital services.
“Similarly, the sum of N232.54 million was disbursed to five beneficiaries under the CBN Healthcare Sector Research and Development Intervention (Grant) Scheme (HSRDIS) for the development of testing kits and devices for COVID-19 and Lassa Fever.
“On the National Mass Metering Programme (NMMP), N36.04 billion was disbursed to 17 Meter Asset Providers to nine Distribution Companies (DisCos), for the procurement and installation of 657,562 electricity meters,’’ Mr Emefiele said.
NAN
The Nigerian National Petroleum Company Limited, NNPCL has officially decided not to sell the Port Harcourt Refining Company.
NNPCL has, instead said it is committed to conducting an extensive rehabilitation of the facility and ensuring its continued operation.
During a company-wide town hall meeting held at the NNPC Towers in Abuja, Bayo Ojulari, the Group Chief Executive Officer of NNPC Ltd, announced the decision regarding the future of the nation’s most significant state-owned refining asset, putting an end to weeks of speculation.
A statement by NNPCL reads, “The Nigerian National Petroleum Company Limited has officially ruled out the sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-grade rehabilitation and retention of the plant.
“The ongoing review indicates that the earlier decision to operate the Port Harcourt refinery, before full completion of its rehabilitation, was ill-informed and subcommercial.
”Although progress is being made on all three, the emerging outlook calls for more advanced technical partnerships to complete and high-grade the rehabilitation of the Port Harcourt refinery.
”Thus, selling is highly unlikely as it would lead to further value erosion.”
President Bola Tinubu has approved the appointment of Adeyemi Olumode, as the new Federal Fire Service, FFS, Controller-General.
The appointment was announced on Wednesday on behalf of the Federal Government by retired Maj.-Gen Abdulmalik Jubril, Secretary of the Civil, Defence, Correctional, Fire and Immigration Services Board, CDCFIB.
Jubril said the appointment followed the retirement of the current Controller-General, Abdulganiyu Jaji, on August 13.
Jaji is retiring upon attaining the age of 60 by August 13.
Jibril further disclosed said that Adeyemi Olumode is qualified for the position, having attended and passed all mandatory in-service training, Command courses as well as other courses within and outside the country.
“He brings a wealth of experience to his new role, having transferred his service from the FCT Fire Service to the Federal Fire Service and grown to the rank of DCG in the Human Resource Directorate of the Service Headquarters.
“He has served in various capacities and is equally a member/fellow of the following professional associations including Association of National Accountants of Nigeria, ANAN, Institute of Corporate Administration of Nigeria, Institute of Public Administration of Nigeria and Chartered Institute of Treasury Management of Nigeria.”
President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.
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