Nigeria Banks’ credit to the economy rose by N75bn to N43.67tn as of the end of February from N42.92tn in January.
The Central Bank Governor, Godwin Emefiele, disclosed this on Tuesday in Abuja, said the committee noted that the bank has disbursed funds under its various agricultural interventions towards improving food supply in Nigeria.
Me. Emefiele said total disbursements as of the end of February amounted to N1.487tn under the various agricultural programmes, of which N686.59bn was disbursed under the Commercial Agricultural Credit Scheme and N601.75bn under the Anchor Borrowers Programmes to 3,038,649 farmers to support food supply and dampen inflationary pressures.
Under the Targeted Credit Facility, he said, the bank has disbursed N218.16bn to 475,376 beneficiaries, of which 34 per cent of beneficiaries were SMEs.
Under the N100bn Health Care intervention Fund, he noted that the bank had disbursed N94.34bn, and was willing to expand the facility to 85 projects in the pharmaceutical industry, hospitals and state governments for both brown field and green field projects, mostly to expand pharmaceutical drug lines, acquire MRI and other equipment and upgrade laboratories and other hospital services.