The Central Bank of Nigeria (CBN) on Wednesday released the framework for N250 billion intervention facility to help stimulate investment in the gas value chain.
This is part of its efforts at stimulating finance to critical sectors of the economy.
The framework stated that large-scale projects under the intervention would be financed under the Power and Airlines Intervention Fund (PAIF), in line with existing guidelines regulating the PAIF, while small-scale operators and retail distributors would be financed by the NIRSAL Microfinance Bank (NMFB) and/or any other Participating Financial Institution (PFI) under the Agribusiness/Small and Medium and Medium Enterprises Investment Scheme (AgSMEIS).
The CBN said the term loan for manufacturers, processors, and wholesale distributors would be determined based on the activity and would not exceed N10 billion per obligor, while working capital is pegged at maximum of N500 million per obligor.
Details later…
