Business

CBN reels out guidelines for N250bn intervention in gas value chain

CBN unveils Sharia banking model

 

The Central Bank of Nigeria (CBN) has released guidelines for its N250 billion intervention facilities for the recently introduced investment to help stimulate the gas value chain.

The CBN website which posted information, said that a 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.

It also disclosed that 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 scale business.

According to the apex bank, 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.

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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