CBN Facilitates N9.71tr Credit In Three Years

The Central Bank of Nigeria (CBN) has disbursed N9.714trillion in financial interventions to different sectors of the economy in the last three years.
The largest chunk of the disbursement of N3.166trillion or 32.6percent of the total disbursements went to manufacturing and industries.
Speaking on this development and other activities of the Development Finance Department (DFD) of the CBN, Director, DFD, Mr. Yusuf Yila, assured the “Development Finance Department of the Central Bank of Nigeria is committed to the goal of sustainable economic growth”.
Yila spoke at the Department’s 2022 retreat in Abuja with the theme: Financing for sustainable development in Nigeria.
At the event, he stated the “DFD has been at the frontbench of food security for Nigeria in recent years through a plethora of programmes and initiatives.
Other disbursements made from the N9.714trillion are: N2.243trillion or 23.1percent to energy and infrastructure: N2.214 or 22.8percent to agriculture; N1.010 trillion or 10.4percent to services; N689.694billion or 7.1percent to Micro Small and Medium Enterprises (MSMEs); N233.136billion or 2.4percent to export and N135.996billion or 1.4percent to health.
Yila said the department has “developed an advanced system for linking farmers to input suppliers and providing access to markets for farm products”.
He boasted: “The entire agricultural value chain has seen a transformation not witnessed before and we are certain the global headwinds, which have distorted outcomes for most economies across the world, will abate”.
Yila insisted that “Nigeria is on the path of sustainability and food security”.