How to Apply for FGN 5B 100 for 100 Intervention Programme

How to Apply for FGN 5B 100 for 100 Intervention Programme

THROUGH 100 PROJECTS FOR EVERY 100 DAYS

This initiative is designed to create the flow of finance and investments to enterprises with potential to kickstart a sustainable economic growth trajectory, accelerate structural transformation, promote diversification, and improve productivity. It is a support to private sector companies with the aim of reducing certain imports, increasing non-oil exports and to improve the FX-generating capacity of the economy.

The broad objective of the initiative is to reverse the nation’s over-reliance on imports, by creating an ecosystem that targets and supports projects with potential to transform and catalyze the productive base of the economy. The specific objectives include:

i. catalyse import substitution of targeted commodities;
ii. increase local production and productivity;
iii. increase non-oil exports; and
iv. improve foreign exchange earning capacity of the economy

A comprehensive, regular monitoring of specific benchmarks and key performance indicators (KPIs) under the initiative shall be undertaken regularly. The KPIs (specific and relevant) shall include:

i. % increase in production output of financed companies;
ii. % increase in capacity utilisation;
iii. % increase in export volume and value;
iv. % decrease in import volume and value of industrial raw materials;
v. Increase in number of jobs created.

Focal activities shall be existing businesses and projects (brownfield) with potential to transform and jumpstart the productive base of the economy such as:

i. Manufacturing
ii. Agriculture and agro-processing
iii. Extractive Industries
iv. Petro-Chemicals and Renewable Energy
v. Healthcare and Pharmaceuticals
vi. Logistics Services and Trade-Related Infrastructure
vii. Any other activities as may be prescribed

Loan Type
Long-term loan for acquisition of plant and machinery and Working Capital

Loan Limit

Loan amount shall be a maximum of N5 billion per obligor. Any amount above N5 billion shall require the special approval of Management.

The Rate Of Interest
Interest Rate under the intervention shall be at not more than 5.0% p.a. (all inclusive) up to 28th February 2022, thereafter, interest on the facility shall revert to 9% p.a. (all inclusive) effective from 1st March 2022.

Loan Tenor And Moratorium

• Term loans shall have a maximum tenor of ten (10) years depending on the complexity of the project, not exceeding 31st December 2031. Each project tenor shall be determined in relation to its cash flow and life span of the underlyingcollateral.
• Moratorium: Term loans shall have two (2) years moratorium.
• Working capital facility shall have a tenor of one (1) year with provision for roll over for a maximum of three (3) years.
• The participating financial institution (PFI) shall bear the credit risk.
• Refinancing of existing facilities allowed under the initiative, subject to Management’s approval.

Collateral Requirements
The collateral acceptable under the intervention facility shall be as may be acceptable by the PFI under the RSSF-DCRR.

Repayment Of Loan
Monthly interests on the facility shall be amortised and transferred quarterly with principal repayments to the CBN.

Participating Financial Institutions (PFIs)
Only CRR contributing Deposit Money Banks (DMBs) shall be eligible to participate under the initiative.

Apply Here: https://100for100ppp.ng/

If you have any questions, kindly use the comment section before, we will be happy to help you.

Prof. Yemi Osibanjo, Vice-president FRN.