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Bullion

Keywords

Small and medium enterprises (SMEs), Micro small and medium enterprises (MSMEs), Inclusive growth, Real sector, Economic development, Financial stability, Manufacturing services.

Abstract

The fall in crude oil in the international market has expose Nigeria's vulnerability to external shocks and overdependence on a mono-product economy thereby presenting the opportunity for Nigeria to diversify its economy away from oil into agriculture, manufacturing services and other non-oil sectors. This paper examines the need to support key sectors that are drivers of growth and to also upscale its developmental finance initiatives targeted at economic growth, deepening of deepening of credit delivery to the real sector. The paper highlighted focal areas and the interventions by CBN in these areas to include Agricultural sector; Infrastructure; Manufacturing sector; MSMEs and Entrepreneurship Development. This is followed by a discussion of the broad policy deliverables of are interventions CBN development finance intervention deliverables which includes: improvement of access to finance; catalysing the diversification of the economy; stimulate the creation of jobs; and supporting inclusive growth. A tabular summary of CBN development finance interventions.

Author Bio

The author is a Director of Development Finance Department of the Central Bank of Nigeria.

Publication Title

CBN Bullion

Issue

3

Volume

41

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