45 Years Of CBN Intervention45 YEARS OF CBN INTERVENTION: Kogi State

45 YEARS OF CBN INTERVENTION: Kogi State

The Anchor Borrowers’ Programme (ABP)

Anchor Borrowers’ Programme (ABP) is also a sourcess in Kogi over the years, specific focus under the ABP has been on agricultural commodities that have potential for significant economic benefits. These include: cassava, cocoa, cotton, tomato, aquaculture, rice, maize, poultry, livestock (dairy), wheat and oil palm.

One of the beneficiaries of the ABP in Kogi State is Crest Agro Products Limited(CAP), a company that produces high quality cassava starch for food, pharmaceutical, and textile industries. The company aims at promoting commercial cassava farming and industrial processing to bridge the domestic demand-supply gap in starch.

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Crest Agro Products Limited has grown to a fully automated processing plant with a capacity of 21,600MT annually of High Quality Casava Starch (HQCS). At full-scale production, CAP produces 100,000MT of starch annually and creates employment for about 3,500 people across the cassava value chain.

The Power And Airline Intervention Fund (PAIF)

The Power and Airline Intervention Fund (PAIF) was established to fast track the development of the power and aviation sectors in Nigeria. Other objectives of the PAIF include: improving the stock of the nation’s power, enabling infrastructure, generating employment, enhancing the standard of living of citizens through consistent power supply and stimulating private sector investments in the power and aviation sectors.

Name: Geregu Power PLC
Intervention: Power and Airline Intervention Fund(PAIF)
Sector: Energy
Location: Kogi State

Geregu Power Plc is one of Nigeria’s leading electricity generating companies (GenCos) that uses gas turbines as a clean energy source to generate electricity. The plant was constructed by the Federal Government of Nigeria (FGN) and privatized in November 2013 to Amperion Power Distribution Company. The plant comprises of three units of Siemens V94.2, STG5-2000E simple cycle gas turbine generation with total insatlled installed capacity of 414MW which generates electric electricity and supply supplies to the National Grid managed by the Transmission Company of Nigeria (TCN)

The Real Sector Support Facility – Differentiated Cash Reserve Requirement (RSSF-DCRR)

The Real Sector Support Facility (RSSF) was set up to fast track the development of critical sectors of the economy, such as manufacturing, agriculture value chain and the service sub-sectors of the Nigerian economy. It is aimed at increasing output, generating employment, diversifying the revenue base, increasing foreign exchange earnings and providing inputs for the industrial sector on a sustainable basis. Under this intervention programme, priority is accorded to projects with high local content, import substitution, foreign exchange earnings and potential for job creation.

Name: Mangal Industries
Intervention: RSSF-DCRR
Sector: Manufacturing
Location: Kogi State

Mangal Industries Limited is located in Kogi State. The project was part-financed to set up a 6000-tons per day greefield intergrated cement factory and to install a 50MW captive power plant. The company’s annual production capacity is estimated to be about 2 Million tones.

Specifically, the new plant is expected to increase the company’s capacity by an additional 1.9 Million tons per day thereby reducing the demand-supply gap and stablizing cement prices in the country, in addition to this, the project would create huge job opportunities for Nigerians.

Name : B.N CERAMICS
Intervention: RSSF-DCRR
Sector: Manufacturing
Location: Kogi State

B.N Ceramics is a manufacturer of ceramic and porcelain tiles in Nigeria. The company owns a prodcution base with two authentic polishng automatic lines at Ajaokuta, Kogi, specilaizing in a wide range of products in ceramics and porcelain polishing categories.

The Agri-Business Small And Medium Enterprises Investment Scheme (AgSMEIS)

The Agri-business Small and Medium Enterprises Investment Scheme (AgSMEIS) was established to support the Federal Government’s efforts at promoting agricultural business /small and medium enterprises (SMEs) as a vehicle for sustainable economic development and employment generation.

Name: Ayodele Abimbola
Intervention: AGSMEIS
Sector: MSME
Location: Kogi State

Abimbola is a passionate caterer who began her business in a classroom space due to unavailability of capital. By virtue of accessing the AgSMEIS loan offered by the CBN, she was able to secure a bigger business space which she uses for her business and as a classroom where she trains over 100 students.

Accessing the loan gave her the opportunity to employ more workers and train more trainees.

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