By Ignatius Ushie
The Central Bank of Nigeria (CBN) has released the guideline for the recently introduced N250 billion intervention facilities to help stimulate investment in the gas value chain.
Information obtained from the CBN website revealed that large-scale projects under the intervention will be financed under the Power and Airlines Intervention Fund (PAIF), in line with existing guidelines regulating the PAIF.
Small-scale operators and retail distributors will be financed by the NIRSAL Microfinance Bank (NMFB) and/or any other Participating Financial Institution PFI under the Agribusiness/Small and Medium Business.
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It further disclosed that any other mid to downstream gas value chain related activity recommended by the Ministry of Petroleum Resources (MPR) and the manufacturers, processors, wholesale distributors and related activities shall be funded under the Power and Airline Intervention Fund PAIF.
According to the guidelines loan Manufacturers, Processors, wholesale distributors shall be determined based on the activity and shall not exceed N10 billion per obligor.
Also, the maximum of N500 million per obligor, small & Medium Enterprises SMEs and Retail Distributors shall be determined based on the activity and shall not exceed N50 million per obligor.
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