CBN Sets Criteria For Selection Of Companies In 100 For 100 PPP
THE Central Bank of Nigeria (CBN) has disclosed the criteria for the selection of private sector companies’ participation under the 100 for 100 Policy on Production and Productivity (PPP).
NIGERIAN TRIBUNE reports that the Central Bank of Nigeria has announced that the selection will be based on the company’s contribution to economic growth, jobs creation, and social impact.
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According to the Apex bank, other criteria for the selection also involves viability of the business, credit-worthiness of directors, contribution to GDP potential, production efficiency, scalability, historical financial performance (three years audited report of the company), share of domestic market, foreign exchange earning potential, ease of exports. Jamb Result
NIGERIAN TRIBUNE reports that the objective of the new CBN’s 100 for 100 financial instrument is to reverse the country’s over-reliance on imports. Information Guide Nigeria
The 100 for 100 financial instruments will create a platform that targets and supports the right companies and projects with the potential to immediately transform and jumpstart the productive base of the economy.
According to the CBN, the 100 for 100 PPP instrument shall provide Naira Intervention funding under existing CBN intervention processes and complete FX funding for new machinery.
NIGERIA TRIBUNE reports that the CBN added that it will partner with fiscal authorities to develop the power sector, port and export reforms, and ease business operations in the country as well as enhance competitiveness.
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