GUIDELINES FOR IMPLEMENTATION OF 100 for 100 …
DFD/DIR/PUB/CIR/01/002 November 1, 2021 GUIDELINES FOR IMPLEMENTATION OF 100 for 100 POLICY ON PRODUCTION AND PRODUCTIVITY (100 FOR 100 PPP) In an effort to stimulate the flow of credit to the real sector of the economy in order to reverse the nation's over-reliance on import, the Central Bank of Nigeria hereby issues the Guidelines for the implementation of the 100 for 100 Policy for Production and Productivity (100 for 100 PPP) for eligible private companies with potential to immediately transform and catalyse the productive base of the economy. Enquiries on the Guidelines may be referred to the Director, Development Finance Department, Central Bank of Nigeria, Abuja, Philip Yila Yusuf Director, Development Finance Department
Classified as Confidential
CENTRAL BANK OF NIGERIA GUIDELINES FOR THE IMPLEMENTATION OF THE 100 FOR 100 PPP (POLICY ON PRODUCTION AND PRODUCTIVITY)
November 2021
Classified as Confidential
TABLE OF CONTENTS 1. Introduction.............................................................................................................................3 2. Objectives of the initiative .................................................................................................4 3. Key Performance Indicators (KPIs) ................................................................................4 4. Activities Covered..................................................................................................................4 5. Funding......................................................................................................................................5 6. Financial Instrument Features .........................................................................................5
6.1 Loan Type.............................................................................................................................5 6.2 Loan Limit.............................................................................................................................5 6.3 Interest Rate .......................................................................................................................6 6.4 Loan Tenor and Moratorium..........................................................................................6 6.5 Collateral Requirements .................................................................................................6 6.6 Repayment.......................................................................................................................6 6.7 Participating Financial Institutions (PFIs) ................................................................6 7. Modalities..................................................................................................................................7 8. Selection Criteria ...................................................................................................................8 9. Responsibilities of Stakeholders ......................................................................................9 9.1 Central Bank of Nigeria...............................................................................................9 9.2 Participating Financial Institution (PFI) ..............................................................10 9.3 Obligors ...........................................................................................................................11 10. Verification and Monitoring..........................................................................................12 11. Discontinuation of Credit Facility...............................................................................12 12. Dispute Resolution ..........................................................................................................12 13. Infractions ..........................................................................................................................12 14. Exit Date .............................................................................................................................12 15. Management of the initiative ......................................................................................12 16. Enquiries and Returns ...................................................................................................13
Classified as Confidential
Page 2 of 13
CENTRAL BANK OF NIGERIA
GUIDELINES FOR THE IMPLEMENTATION OF 100 FOR 100 POLICY ON PRODUCTION AND PRODUCTIVITY (PPP)
1. Introduction In furtherance of its core mandates of delivering price and financial system stability, and promoting sustainable economic development, the 100 for 100 Policy on Production and Productivity (PPP) is introduced by the Central Bank of Nigeria (CBN) to stimulate investments in Nigeria's manufacturing sector with the core objective of boosting production and productivity, necessary to transform and catalyse the productive base of the economy. The overarching goal of the initiative is to reverse the nation's over reliance on import.
The initiative, 100 for 100 PPP, is a financial instrument designed to create the flow of finance and investments to enterprises with potential to catalyse sustainable economic growth trajectory, accelerate structural transformation, promote diversification, and improve productivity.
Quarterly, starting from 1st November 2021, the initiative shall select 100 private sector companies with projects that have potential to significantly increase domestic production and productivity, reduce imports, increase non-oil exports, and overall improvements in the foreign exchange generating capacity of the Nigerian economy. The initiative, which shall be bank-led, will be rolled over every 100 days (that is, quarterly) with new set of companies selected for financing under the initiative. The initiative shall be implemented in collaboration with relevant stakeholders with focus on micro and macroeconomic impacts, in terms of contribution to GDP and
Page 3 of 13
Classified as Confidential
exports, sustainable jobs created, local content development, production output, and capacity utilisation and integration into the global value chain.
This Guidelines outlines the operational modalities for the instrument.
2. Objectives of the initiative The broad objective of the initiative is to reverse the nation's over-reliance on imports, by creating an ecosystem that targets and supports the right projects with potential to transform and catalyse the productive base of the economy. The specific objectives of the initiative include:
i. catalyse import substitution of targeted commodities; ii. increase local production and productivity; iii. increase non-oil exports; and iv. improve foreign exchange earning capacity of the economy.
3. Key Performance Indicators (KPIs) A comprehensive, regular monitoring of specific benchmarks and key performance indicators (KPIs) under the initiative shall be undertaken regularly. The KPIs (specific and relevant) shall include:
i. Percentage increase in production output of financed companies; ii. Percentage increase in capacity utilisation; iii. Percentage increase in export volume; iv. Percentage increase in export value; v. Percentage decrease in import volume of industrial raw materials; vi. Percentage decrease in import value of industrial raw materials; vii. Increase in number of jobs created.
4. Activities Covered Focal activities covered under the initiative shall be existing businesses and projects (brownfield) with potential to immediately transform and catalyse the productive base of the economy. New projects (greenfield) with equal
Page 4 of 13
Classified as Confidential
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- effect of liquidity management on the financial
- basic things you need to know about the pensions mortgage
- loan agreement
- guidelines for implementation of 100 for 100
- village savings and loan associations
- determinants of non performing loans in nigeria
- the impact of non performing loans and bank performance
- interest rates in nigeria an analytical perspective
- personal loan application first bank of nigeria
- impact of non performing loans on the performance of
Related searches
- manuscript guidelines for publication
- submission guidelines for a novel
- guidelines for management of stemi
- template for statement of purpose for masters
- 100 words of encouragement for kids
- steps for implementation plan
- 100 examples of synonyms for kids
- outline for statement of purpose for masters
- density formula of 100 mass 100 volume
- aha guidelines for treatment of hypertension
- implementation of a strategic plan
- d 01 100 215 sf 000 specification for preparation of material change notices