Jeokol Farm, Mecure Lead the List Of 28 Companies Selected For CBN N23bn Funding, Out of 248 Applicants

• The Central Bank of Nigeria released the names of successful 28 companies that qualified for 100 for 100 Policy for Production and Productivity (PPP) funds
• The bank said about 243 had applied for the scheme Jeokol Farm, Mecure and other 26 companies projects were selected for funding
• Based on the details of the companies, a total of 14 in the manufacturing sector, 12 companies in the agric sector, and two in the healthcare sector scaled through the rigorous screening process

The Central bank of Nigeria has released the names of companies that were recently selected as the first batch of 100 for 100 Policy for Production and Productivity (PPP).

The 100 and 100 policy was designed to help manufacturers in the country to access loans to the tune of over N5 billion ThisDay reports.

The Whister also revealed that CBN also expected that companies selected will be able to create over 20,000 direct and indirect jobs across multiple sectors of the economy, as well as generate close to $125.8m in foreign exchange earnings.

Names and profile of the selected companies located in 13 states

UCIKO Nig LTD

Located in Abia State the company received N150,750,000 for the purchase of biscuit production machines.

Springfield Agro Limited

Is an agric company based in Lagos and it received N870,000,000 for the construction and installation of cold room storage facility.

Jeokol Farm Limited

Is based in Lagos and it received N870m for the Construction and installation of cold room storage facility.

Diamond Super Sacks Ltd

The company is based in Kano State got N2bn for the Acquisition of Woven Sacks & Polytwines making machine.

Mecure Healthcare

Is a healthcare firm based in Lagos received N1.3bn for the Purchase of equipment for Oncology centre.

Juddy Bolema Industries Limited

The company is based in Anambra State. The manufacturer received N1.3bn for the expansion of existing factory and purchase of plant and machinery for the Recycling of plastic waste.

Vital Products PLC

The company received N900,841,000 for the purchase of machinery for Tomato paste production in Lagos.

Lamb Ranches Limited

N998,045,055 was received for the acquisition of farm inputs for cattle breeding in Rivers State.

Harvest Feed & Agro Processing Ltd received N347,760,000 to expand its agro-chemical processing plant in Ogun State.

Transnational Green Pastures Ltd based in Oyo state received N95,000,000 as part-finance for the importation of broiler farming plant.

Other names on the list and how much was received

Wewood Limited N1,000,000,000 to finance 100 per cent cost of warehouses in Edo State.

Lanre Shittu Motors received N1,900,000,000 for the expansion of phase 2 of local automobile assembling Plant FCT.

Pally Agro Products LTD based in Abeokuta State received N400m for the construction of Warehouses.

RotoPrint Limited received N590,000,000 for the manufacturing Flexible packaging products Ogun State, while Premier Seed Nigeria LTD got N500,000,000 for the financing of Seed production in Kaduna State.

Jubaili Agrotec got N896,000,000 as part-finance procurement of herbicides/pesticides in Lagos State.

Food Solutions Livestock LTD received N450,000,000 for the expansion of poultry farming operations in Oyo State, while Summit Health Care received N300,000,000 for the expansion of eye care specialist hospital in Lagos State.

Aikson Global LTD received N400,000,000 for the purchase and installation of rapid 75 brand of printing machine in Lagos State, while Metal World Recycling Ltd received N150,000,000 for the purchase of machinery for the Production of Aluminium in Lagos State.

Reliance Chemical Products Limited got N1,250,000,000 for the Setting up Silicate

Production Plant in Lagos State, while Sonhart Investment Ltd received N734,000,000 for the expansion of a factory for manufacturing of industrial plastics in Ogun State.

Taraba Farms Limited received N500,000,000 for Livestock Production and commercial grazing in Taraba State, while Crutech Consultancy Services Limited received the loan of N60,000,000 to finance establishment of an integrated agricultural farm in Cross River State.

Lofeta Global Merchants Company Limited received N120,000,000 to finance the construction of a N20,000 per day automated poultry processing plant in Oyo State, while Sarsoli Industrial Company Limited received N2,000,000,000 for Calcium-carbonate manufacturing, Filler and black master batches in Lagos State.

J.O.F. Nigeria Limited got a loan of N1,200,000,000.00 for the completion of salt factory Lagos State, while Salient Industries LTD received the biggest loan amount of N2,500,000,000 for the manufacturing of flexible packaging products in Lagos State.

Nigeria largest banks by customer deposits

Meanwhile, total customer deposits in nine Nigerian banks climbed to N30.81 trillion at the end of the first quarter of this year, up from N29.73 trillion in December 2020.

United Bank for Africa Plc was the top bank in terms of customer deposits as of March 31, 2021, with deposits growing to N5.79 trillion from N5.68 trillion in December.

Others were revealed in the report which used public information from the banks audited accounts published on the Nigerian exchange website.

Source: Legit.ng