Objectives of the initiative
The general objective of the initiative is to reverse the country’s excessive dependence on importsby creating an ecosystem that targets and supports projects that can transform and catalyze the productive base of the economy.
Specific objectives include:
I. catalyze import substitution targeted products;
ii. increase local production and productivity;
iii. to augment non-oil exports; and
iv. to improve currency earning capacity economy
Key performance indicators
A complete and regular follow-up of specific standards and performance indicators (KPIs) as part of the initiative should be undertaken on a regular basis. KPIs (specific and relevant) should include:
I. % increase in production yield companies financed;
ii. % increase in capacity utilization;
iii. % increase in volume and value of exports;
iv. % decrease in volume and value of imports industrial raw materials;
v. Increase in the number of jobs created.
Focal activities should be existing businesses and projects (brownfield) with the potential to transform and revive the productive base of the economy such as:
ii. Agriculture and agro-industry
iii. Extractive industries
iv. Petrochemicals and Renewable energy
v. Health care and pharmaceuticals
vi. Logistics services and trade-related infrastructure
vii. Any other activity that may be prescribed.
- Go to https://100for100ppp.ng/submit-application to complete your application form.
- .You must have submitted your application to your bank before completing this form and uploading your application materials.
- Create a user account before submitting your loan request. To complete the account creation, you will need to upload your ID (driver’s license or international passport data page
etc.). PDF format only and one page.
- Note that when creating the account, you will be asked to verify your email and phone number
via a One Time Ping (OTP) that will be sent to your email address and phone number.
- Prepare a summary of your application of maximum two (2) pages in PDF form and
- Obtain a scanned copy of the acknowledgment letter as proof that you submitted your application to your bank
where you applied for the loan and download the PDF version here. This should be a page
- Make sure you enter all the correct information. You can save this
request and come back to complete it
- After each application, a PDF document will be generated here which
is your TENDER SHEET, write down the identification number. You can access the slip through your dashboard.
- The status of your application can be tracked through your dashboard
- Make sure your company details are correct – TIN and RC
- If you need further clarification or assistance,
You can also make a call to any of these numbers: CBN Contact Center: 07002255226;
DFD office: 08095500774.
Type of loan
Long-term loan for the acquisition of plant and machinery and working capital
The loan amount should be a maximum of N5 billion per debtor. Any amount over N5 billion will require special approval from management.
The interest rate
The interest rate under the intervention is not to exceed 5.0% per annum (all inclusive) until 28 February 2022, thereafter interest on the facility will revert to 9% per annum ( all inclusive) from March 1, 2022.
Loan duration and moratorium
- Term loans will have a maximum duration of ten (10) years depending on the complexity of the project, without exceeding 31 years
December 2031. The duration of each project should be determined based on its cash flow and the life of the underlying collateral.
- Moratorium: Term loans will be two (2) years
- The working capital has a duration of one (1) year
with possibility of reversal for a maximum of three (3)
- The Participating Financial Institution (PFI) assumes the
- Refinancing of existing facilities authorized under the
initiative, subject to management approval.
The guarantee acceptable within the framework of the intervention facility is that which may be acceptable by the IFP within the framework of the RSSF-DCRR.
Monthly interest on the facility will be amortized and transferred quarterly with principal repayments to CBN.
Participating Financial Institutions (PFIs)
Only deposit banks (DMBs) contributing to the CRR are eligible to participate in the initiative.
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