The real sector development initiatives of the Central Bank of Nigeria (CBN) were introduced to stimulate and sustain growth in key sectors of the economy, revive moribund sectors, empower the youth population, explore the untapped potential in various economic landscapes, and enhance foreign exchange inflow.

These interventions have significantly contributed to the overall growth of the Nigerian economy, as shown by available data. In response to the COVID-19 pandemic, the Central Bank of Nigeria also granted loans to households and small businesses to cushion the deleterious effects of the pandemic across the country.

In recognition of the importance of access to finance as a key factor to development of the economy, the CBN’s development finance interventions are targeted at priority segments which include the following:


1. Agriculture

2. Manufacturing

3. Infrastructure

4. HealthCare

5. Youth and Entrepreneurship Development

6. Export

7. Micro, Small and Medium Enterprises (MSME’s)

In Anambra and Enugu states, the CBN has financed 23,052 and 22,799 projects respectively. Below are highlights from few beneficiaries of CBN’s interventions in both States.


Name: Innoson Technical And Industrial Limited

Intervention: Health Sector Intervention Fund

Sector: Health Location: Nnewi, Anambra State

Innoson Technical And Industrial Limited, is a subsidiary of Innoson Group engaged in the production of plastics, motorcycle parts and allied products. The company, incorporated in 2002, with its head office and factory situated at Nnewi Anambra State, commenced operations in October 2002. It ranks as the largest producer of plastic products in Nigeria, with its products consumed in the country and the West African subregion.

Innoson Technical and Industrial Limited was established to also consolidate the company’s leading position in the motorcycle industry, by producing the motorcycle plastic requirement of its sister company, Innoson Nigeria Limited.

Innoson Technical and Industrial Limited is one of the beneficiaries of the Health Sector Intervention Fund (HSIF), which is an initiative of the Central Bank of Nigeria, established as a fallout of the Covid-19 pandemic. The initiative was aimed at providing long-term low-cost financing for Health Care Infrastructure development that would lead to the evolution of World Class facilities in the country.

The company accessed the funds for the production of ambulances to boost the capacity of the health sector. The facility accessed has greatly boosted the company’s manufacturing capacity.

Name: Afro-Asia Automobile And Plastics Industries Limited

Intervention: RSSF-DCRR

Sector: Manufacturing Location: Nnewi, Anambra State

Afro-Asia Automobile And Plastics Industries Limited, a subsidiary of the Chicason Group, has its operational manufacturing plant in Nnewi, Anambra State. The company is one of the beneficiaries of the CBN’s Real Sector Support Facility.

Afro-Asia specializes in the production of quality industrial and domestic plastic containers, automotive plastic spare parts, PVC pipes and ceiling profiles, household containers and disposable wares, etc. They utilize thermoform in the production of plastic cups, plates, and takeaway packs, and use polyvinyl chloride to produce various types of pipes and conduits, wiring etc.

The impact of CBN’s intervention on the company and their staff cannot be over-emphasized, as prior to accessing the loan the company was constrained by a myriad of challenges including, but not limited to, the hike in the cost of raw materials. The facility boosted the company’s working capital, impacted positively on their output by boosting staff strength from about 500 staff to 700 staff, increasing the purchasing power for raw materials and other inputs, and all-round upscaling.

In the words of the company’s Financial Controller, Mr. Samuel Ihedigbo, “CBN’s intervention brought comfort to humanity.”

Name: Kingsley Ezeagu (Kings Block Industry)

Intervention: Agribusiness Small And Medium Enterprise Intervention Scheme (AGSMEIS)

Sector: SME

Kingsley Ezeagu, CEO of Kings Block Industry, is a businessman who owns an electrical materials shop and aspired to set up a block industry, considering its demand in his community. But his desire to do that was hampered by lack of funds.

Mr. Ezeagu was apprised of the Agri-Business, Small and Medium Enterprises Intervention Scheme of the Central Bank of Nigeria by a friend of his, which spurred him to apply for the loan. With the AGSMEIS loan, he was able to set-up his block industry, which required the purchase of materials, securing a property for the industry, purchase of a truck, and employment of 10 staff.

Name: E.M. Farms

Intervention: Commercial Agriculture Credit Scheme (CACS)

Sector: Agriculture

EM Farms Anambra State

EM Farms Limited is an integrated farm that has been in existence since 1979 and was incorporated in 1998. The company runs a massive poultry and egg production project, and produces organic manure for its use and for sale. The Farm also maintains several state-of-the-art facilities which guarantee efficient processing and packaging of products.

Accessing the CBN CACS facility has enabled EM Farms procure battery cages for their layers, stock up on raw materials for manure production, and procure large amounts of maize and soya, which are the primary materials used for their bird feed.

The management of EM Farms commended the efforts of CBN for its intervention in the maize value chain, thereby making the commodity widely available and stabilizing its cost. For the first time earlier this year, the company was able to procure its raw materials from Anambra State.


Name: Juhel Nigeria Limited

Intervention: Health Sector Intervention Fund

Sector: Health

Juhel Nigeria Ltd is one of the fastest growing indigenous pharmaceutical manufacturing companies in Nigeria, located in Emene, Enugu State. The company manufactures about 150 pharmaceutical products, ranging from tablets, syrups, infusions etc. It accessed CBN’s Health Sector Intervention Fund (HSIF), which is being utilized to expand and upgrade its facilities.

The company recently acquired new machines which are being installed in their new factory, they have reached about 90% completion. Juhel Nigeria aims to upscale its capacity to a point where it can compete favourably in the international market. The company has achieved 40% expansion of the business, standardization, global competitiveness, job creation and export potential.

It is worthy of note that CBN’s Health Sector Intervention Fund has greatly impacted the country’s pharmaceutical industry, as several African countries in the ECOWAS subregion and beyond are dependent on Nigeria for quality pharmaceutical products due to an increased production in the industry.

Name: Ozor Esther Chidiebere

Intervention: Targeted Credit Facility

Sector: SME

Location: Enugu, Enugu State

Ms. Esther Chidiebere Ozor, the Chief Executive Officer of Aestar Beauty and Grooming Lounge, is an entrepreneur and beautician whose salon is located at Nwodo GRA, Enugu, Enugu State. She considers her business as more of a passion, as she enjoys the ability to transform the physical appearances of her clients as a professional make-up artist. She also markets beauty products, hair extensions and pieces.

Ms. Ozor accessed CBN’s Targeted Credit Facility (TCF) in 2020, at the peak of the COVID-19 pandemic. With the loan, she was able to keep her business running, stock up on beauty products, and continued to fuel her passion of beautifying her clients. She currently has three (3) staff in her employ, which has enabled her to expand her client base.

NAME: Castello Marble And Tiles Ltd

Intervention: Targeted Credit Facility

Sector: SME

Location: Enugu, Enugu State

Castello Marble and Tiles Limited, located at Plot 823 Corridor layout in Loma Linda, Enugu, Enugu State, is one of the beneficiaries of CBN’s Targeted Credit Facility- (TCF). The company produces markets and distributes tiles, bricks, granite, and Marble. Their tiles are renowned for being of high quality.

The facility was accessed by the company at a critical time, when the COVID-19 pandemic had negatively impacted businesses. The loan has enabled the company upscale its operations. The management of Castello Marble and Tiles expressed deep appreciation to the Central Bank of Nigeria for its interventions and implored Nigerians who have accessed loans to repay their loans to enable other Nigerians benefit from the Bank’s interventions.


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