CBN Sets Criteria For Selection Of Companies In 100 For 100 PPP
The Central Bank of Nigeria (CBN) has announced criteria for the selection of private sector companies’ participation under the 100 for 100 Policy on Production and Productivity (PPP).
According to a statement by the apex bank on Monday, the selection for participation under the CBN’s Policy on Production and Productivity shall be based on the immediate contribution to the economic growth, jobs creation and social impact.
The CBN noted that in selecting the companies and projects t, key areas such as production efficiency, scalability, historical financial performance, viability of the business, credit-worthiness of directors, shall be deployed.
Other criteria include contribution to GDP potential, share of domestic market, foreign exchange earning potential, ease of exports among others .
The objective of the new CBN’s 100 for 100 financial instrument is to reverse the country’s over-reliance on imports, by creating a platform that targets and supports the right companies and projects with potential to immediately transform and jumpstart the productive base of the economy.
