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CBN Offers Nigerians ₦5bn In ‘100 For 100 PPP Loan’ (See Details And Apply)

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CBN Offers Nigerians ₦5bn In ‘100 For 100 PPP Loan

CBN Offers Nigerians ₦5bn In ‘100 For 100 PPP Loan’ (See Details And Apply)

CBN Offers Nigerians ₦5bn In ‘100 For 100 PPP Loan’ (See Details And Apply)
The Central Bank of Nigeria (CBN) has announced the introduction of a policy on production and productivity (PPP) to be known as 100 for 100 PPP.
The apex bank intends to provide funds for interested and qualified private companies who will be able to get as much as ₦5 billion under the scheme.

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Though companies that can prove they have the capacity to effectively utilize above ₦5 billion would also be considered and funding made available to them but only based on the special approval of CBN’s Management.

The broad objective of the initiative is to reverse the nation’s over-reliance on imports, by creating an ecosystem that targets and supports projects with the potential to transform and catalyze the productive base of the economy.

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According to information about the scheme, interest rate under the PPP intervention shall not be more than 5.0% p.a. (all-inclusive) up to 28th February 2022, thereafter, interest on the facility shall revert to 9% p.a. (all-inclusive) effective from 1st March 2022.

Also, the participating companies will roll over every 100 days meaning new organizations that are qualified will have the opportunity to enter into the scheme every 100 days (quarterly basis).

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The CBN 100 for 100 PPP loan scheme is a financial instrument aimed at creating a smooth flow of finance and investments to enterprises with the potential to boost economic growth, accelerate structural transformation, promote diversification, and improve productivity.

Loan Type

  • Long-term loan for acquisition of plant and machinery and Working Capital

Loan Limit

  • trgLoan amount shall be a maximum of N5 billion per obligor. Any amount above N5 billion shall require the special approval of Management.

The Rate Of Interest

  • Interest Rate under the intervention shall be at not more than 5.0% p.a. (all inclusive) up to 28th February 2022, thereafter, interest on the facility shall revert to 9% p.a. (all inclusive) effective from 1st March 2022.

Loan Tenor And Moratorium

  • Term loans shall have a maximum tenor of ten (10) years depending on the complexity of the project, not exceeding 31st December 2031. Each project tenor shall be determined in relation to its cash flow and life span of the underlyingcollateral.
  • Moratorium: Term loans shall have two (2) years moratorium.
  • Working capital facility shall have a tenor of one (1) year with provision for roll over for a maximum of three (3) years.
  • The participating financial institution (PFI) shall bear the credit risk.
  • Refinancing of existing facilities allowed under the initiative, subject to Management’s approval.

See Also: How To Apply / Register for Nigerian Idol Season 7; Audition Starts November 14th, 2021

How the CBN 100 for 100 PPP Loan works

  • CBN would select 100 private companies who have projects with potential to significantly increase domestic production, reduce imports, increase non-oil exports, and economy growth.
  • The system will be rolled over quarterly (every 100 days) and new qualified set of companies selected for financing.
  • The initiative is funded from the CBN’s Real Sector Support Facility-Differentiated Cash Reserve Requirement (RSSF-DCRR) window (or any other funding window as may be determined by the central bank of Nigeria.
  • The maximum loan amount is N5 billion per obligor.
  • However, any amount above N5 billion shall require special approval from the CBN Management.
CBN Offers Nigerians ₦5bn In ‘100 For 100 PPP Loan
CBN Offers Nigerians ₦5bn In ‘100 For 100 PPP Loan
  • Interests on monthly basis, on the fund shall be amortised and transferred quarterly with principal repayments to the Central Bank of Nigeria. Meanwhile, the interest rate under the intervention shall not be more than 5.0% p.a. (all-inclusive) up to 28th February 2022, thereafter, interest on the facility shall revert to 9% p.a. (all-inclusive) effective from 1st March 2022.
  • The Central Bank would monitor the progress of the company.
  • The CBN would set up comprehensive, regular monitoring of specific benchmarks and key performance indicators (KPIs) for selected companies.

CBN Offers Nigerians ₦5bn In ‘100 For 100 PPP Loan’ (See Details And Apply)

Which companies / organizations are eligible to apply?

Focal activities shall be existing businesses and projects (brownfield) with potential to transform and jumpstart the productive base of the economy such as:

  • i. Manufacturing
    ii. Agriculture and agro-processing
    iii. Extractive Industries
    iv. Petro-Chemicals and Renewable Energy
    v. Healthcare and Pharmaceuticals
    vi. Logistics Services and Trade-Related Infrastructure
    vii. Any other activities as may be prescribed

Documents to be submitted to the CBN for evaluation

1. Financial statements
2. Certified true copies of company registration documents evidencing the incorporation of the Company with the Corporate Affairs Commission (CAC)
3. Three (3) years of audited financials, including the most recent management account of the company
4. Evidence of the company’s, promoters’, and directors’ creditworthiness
5. At least two (2) credit reports of the company and the directors;
6. Business plan of the underlying project for which the facility is to be applied
7. Detailed status report on project’s capacity utilisation, production output, productivity/efficiency level, employment level, export capacity, and value creation.

Major monitoring criteria/KPI expected by the CBN

A comprehensive, regular monitoring of specific benchmarks and key performance indicators (KPIs) under the initiative shall be undertaken regularly by the CBN.

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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 and value;
iv. Percentage decrease in import volume and value of industrial raw materials;
v. Increase in number of jobs created.

How successful companies will be identified

Companies and successful beneficiaries would be published in National dailies for Nigerians to verify and confirm with details of facility granted, operating sector, manufacturing activities financed, and PFI.

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CBN N5 Billion ‘100 for 100 PPP Loan’ Application Portal

To apply for this opportunity, if interested should visit the CBN 100 for 100 PPP application portal at https://100for100ppp.ng/submit-application

CBN Offers Nigerians ₦5bn In ‘100 For 100 PPP Loan’ (See Details And Apply)

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NEITI Recruitment 2022/2023 Application Form Portal | www.neiti.org

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NEITI recruitment 2022

NEITI recruitment 2022 application procedure is here. Are you interested in the Extractive industries transparency initiative recruitment? NEITI is calling on suitably qualified candidates to apply for the 2022 recruitment exercise.

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The NEITI is recruiting. See the available vacancies, requirements, qualifications and also how to apply for the Extractive industries transparency initiative recruitment 2022.

If you are interested in the NEITI jobs, you are advised to take time and read this guide to help you submit your application successfully on the recruitment portal.

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NEITI Recruitment Form 2022

At the moment, the Extractive industries transparency initiative is not recruiting but might soon commence a nationwide recruitment. Interested applicants are advised to wait patiently upon the release of the application form.

The form is available online at the NEITI careers portal via www.neiti.org. Most important, the Extractive industries transparency initiative application form is totally free. Kindly disregard any information or individual asking for money in exchange for the form.

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NEITI recruitment 2022
NEITI recruitment 2022

See Also: SMEDAN Recruitment 2022/2023

Eligible States

Interested applications from the below states can apply for the NEITI recruitment 2022.

AbiaAdamawaAkwa Ibom
AnambraBauchiBayelsa
BenueBornoCross River
DeltaEbonyiEdo
EkitiEnuguGombe
ImoJigawaKaduna
KanoKatsinaKebbi
KogiKwaraLagos
NasarawaNigerOgun
OndoOsunOyo
PlateauRiversSokoto
TarabaYobeZamfara & FCT

NEITI Recruitment Requirements 2022

Nationality: Nigerian

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Minimum Age: 20

Mode of identification: National ID, International Passport, Driver’s License or Voters Card

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  1. Minimum of 5 Credits in SSCE/GCE/NABTEB/NECO including Mathematics and English
  2. B.Sc or Master’s Degree obtained from an accredited Tertiary Institution in any related discipline or an HND in a relevant course in any field of study.
  3. Applicant must have good communication and writing skills

How to Apply for NEITI Recruitment 2022

To apply for the Extractive industries transparency initiative recruitment, you need to visit the application portal via www.neiti.org. Follow the steps below to submit your application.

  1. Visit www.neiti.org
  2. Create an account with your active email
  3. Verify your account via email confirmation
  4. Fill the online application form
  5. Upload credentials
  6. Submit.

We will update this page with the latest application procedures once the NEITI has started the 2022 recruitment exercise.

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SMEDAN Recruitment 2022/2023 Application Form Portal | www.smedan.gov.ng

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SMEDAN recruitment 2022

SMEDAN recruitment 2022 application procedure is here. Are you interested in the Small and medium enterprise development agency of Nigeria recruitment? SMEDAN is calling on suitably qualified candidates to apply for the 2022 recruitment exercise.

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Small and medium enterprise development agency of Nigeria is recruiting. See the available vacancies, requirements, qualifications and also how to apply for the recruitment 2022.

If you are interested in the SMEDAN jobs, you are advised to take time and read this guide to help you submit your application successfully on the recruitment portal.

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SMEDAN Recruitment Form 2022

At the moment, small and medium enterprise development agency of Nigeria is not recruiting but might soon commence a nationwide recruitment. Interested applicants are advised to wait patiently upon the release of the application form.

The form is available online at the SMEDAN careers portal via www.smedan.gov.ng. Most important, the small and medium enterprise development agency of Nigeria application form is totally free. Kindly disregard any information or individual asking for money in exchange for the form.

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SMEDAN recruitment 2022
SMEDAN recruitment 2022

Eligible States

Interested applications from the below states can apply for the SMEDAN recruitment 2022.

AbiaAdamawaAkwa Ibom
AnambraBauchiBayelsa
BenueBornoCross River
DeltaEbonyiEdo
EkitiEnuguGombe
ImoJigawaKaduna
KanoKatsinaKebbi
KogiKwaraLagos
NasarawaNigerOgun
OndoOsunOyo
PlateauRiversSokoto
TarabaYobeZamfara & FCT

See Also: Total Nigeria Recruitment 2022/2023 Application Form Portal | www.total.com.ng

SMEDAN Recruitment Requirements 2022

Nationality: Nigerian

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Minimum Age: 20

Mode of identification: National ID, International Passport, Driver’s License or Voters Card

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  1. Minimum of 5 Credits in SSCE/GCE/NABTEB/NECO including Mathematics and English
  2. B.Sc or Master’s Degree obtained from an accredited Tertiary Institution in any related discipline or an HND in a relevant course in any field of study.
  3. Applicant must have good communication and writing skills

How to Apply for SMEDAN Recruitment 2022

To apply for the small and medium enterprise development agency of Nigeria recruitment, you need to visit the application portal via www.smedan.gov.ng. Follow the steps below to submit your application.

  1. Visit www.smedan.gov.ng
  2. Create an account with your active email
  3. Verify your account via email confirmation
  4. Fill the online application form
  5. Upload credentials
  6. Submit.

We will update this page with the latest application procedures once the SMEDAN has started the 2022 recruitment exercise.

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JOB VACANCIES

Total Nigeria Recruitment 2022/2023 Application Form Portal | www.total.com.ng

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Total Nigeria Recruitment 2022

Total Nigeria recruitment 2022 application procedure is here. Are you interested in the Total Nigeria recruitment? Total Nigeria is calling on suitably qualified candidates to apply for the 2022 recruitment exercise.

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Total Nigeria is recruiting. See the available vacancies, requirements, qualifications and also how to apply for the recruitment 2022.

If you are interested in the Total Nigeria jobs, you are advised to take time and read this guide to help you submit your application successfully on the recruitment portal.

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Total Nigeria Recruitment Form 2022

At the moment, Total Nigeria is not recruiting but might soon commence a nationwide recruitment. Interested applicants are advised to wait patiently upon the release of the application form.

Total Nigeria Recruitment 2022
Total Nigeria Recruitment 2022

The form is available online at the Mercy Corps Nigeria careers portal via www.total.com.ng. Most important, the Total Nigeria application form is totally free. Kindly disregard any information or individual asking for money in exchange for the form.

See Also: Exxon Mobil Corporation Graduate Internship Programme

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Eligible States

Interested applications from the below states can apply for the Total Nigeria recruitment 2022.

AbiaAdamawaAkwa Ibom
AnambraBauchiBayelsa
BenueBornoCross River
DeltaEbonyiEdo
EkitiEnuguGombe
ImoJigawaKaduna
KanoKatsinaKebbi
KogiKwaraLagos
NasarawaNigerOgun
OndoOsunOyo
PlateauRiversSokoto
TarabaYobeZamfara & FCT

Total Nigeria Recruitment Requirements 2022

Nationality: Nigerian

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Minimum Age: 20

Mode of identification: National ID, International Passport, Driver’s License or Voters Card

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  1. Minimum of 5 Credits in SSCE/GCE/NABTEB/NECO including Mathematics and English
  2. B.Sc or Master’s Degree obtained from an accredited Tertiary Institution in any related discipline or an HND in a relevant course in any field of study.
  3. Applicant must have good communication and writing skills

How to Apply for Total Nigeria Recruitment 2022

To apply for the Total Nigeria recruitment, you need to visit the application portal via www.total.com.ng. Follow the steps below to submit your application.

  1. Visit www.total.com.ng
  2. Create an account with your active email
  3. Verify your account via email confirmation
  4. Fill the online application form
  5. Upload credentials
  6. Submit.

We will update this page with the latest application procedures once the Total Nigeria has started the 2022 recruitment exercise.

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