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CBN Release List of Beneficiaries for 100 for 100 PPP Loan Application

Enudi Golden by Enudi Golden
January 11, 2024
in business, Featured, Headline
Reading Time: 5 mins read
100 for 100 Policy
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CBN Release List of Beneficiaries for 100 for 100 PPP Loan Application

The Central Bank of Nigeria (CBN) has released the full list of the beneficiaries of 100 for 100 policy spreading across three major sectors Wednesday, February 2, 2022.

The only official website to check the full list is https://goldennewsng.com/cbn-release-list-of-beneficiaries-for-100-for-100-ppp-loan-application/

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At the official launch of the 100 for 100 Policy for Production and Productivity (PPP), apex bank governor Godwin Emefiele stated that the programme would create over 20,000 jobs.

Emefiele said:

“It is important to note that five of the selected projects are greenfield projects seeking to exploit the huge opportunities in key sectors of our economy.”

The document also showed that only companies from 12 states including the Federal Capital Territory, Abuja, benefited from the first batch of disbursements.

Below are the states where the companies are located:

  1. Abia: one company
  2. Lagos: 11 firms
  3. Ogun: 5 companies
  4. Kano: 1 firm
  5. Anambra: 1
  6. Rivers: 1
  7. Oyo: 3 companies
  8. Edo: 1
  9. Kaduna: 1
  10. Taraba: 1
  11. Cross River: 1
  12. FCT: 1

CBN’s Beneficiaries of 100 for 100 Policy

S/N Name of Beneficiaries Amount Disbursed (NGN) Sector Purpose of Loan Beneficiary Location Total Score
1 UCIKO Nig LTD 150,750,000 Manufacturing Purchase of biscuit production machines Abia State 73
2 Springfield Agro Limited 870,000,000 Agriculture Construction and installation of cold room storage facility Lagos State 82
3 Mecure Healthcare 1,500,000,000 Healthcare Purchase of equipment for Oncology centre Lagos State 68
4 Vital Products PLC 900,841,000 Manufacturing Purchase of machinery for Tomato paste production Lagos State 77
5 Jubaili Agrotec 896,000,000 Manufacturing Part-finance procurrement of herbicides/pesticides Lagos State 71
6 Summit Health Care 300,000,000 Healthcare Expansion of eye care specialist hospital Lagos State 64
7 Aikson Global ASS LTD 400,000,000 Manufacturing Purchase and installation of rapida 75 brand of printing machine Lagos State 78
8 Metal World Recycling Ltd 150,000,000 Manufacturing Purchase of machinery for the Production of Aluminium Lagos State 83
9 Reliance Chemical Products Limited 1,250,000,000 Manufacturing Setting up Silicate Production Plant Lagos State 81
10 Sarsoli Industrial Company Limited 2,000,000,000 Manufacturing Calcium-carbonate manufacturing, Filler and black master batches Lagos State 81
11 J.O.F. Nigeria Limited 1,200,000,000 Manufacturing Completion of salt factory Lagos State 61
12 Salient Industries LTD 2,500,000,000 Manufacturing Manufacturing of flexible pac Lagos State 81
13 Jeokol Farm Limited 90,000,000 Agriculture Expansion of Poultry operations Ogun State 86
14 Harvest Feed & Agro Processing LTD 347,760,000 Agriculture Expand agro-chemical processing plant Ogun State 79
15 RotoPrint Limited 590,000,000 Manufacturing Flexible packaging products Ogun State 71
16 Sonhart Investment Ltd 734,000,000 Manufacturing Expansion of factory for manufacturing of industrial plastics Ogun State 74
17 Pally Agro Products LTD 400,000,000 Agriculture Construction of warehouses Ogun State 65
18 Diamond Super Sacks LTD 2,000,000,000 Manufacturing Acquisition of Woven Sacks & Polytwines making machine Kano State 82
19 Juddy Bolema Industries Limited 1,300,000,000 Manufacturing Expansion of existing factory and purchase of plant and machinery for the Recycling of plastic waste Anambra State 86
20 Lamb Ranches Limited 998,045,055 Agriculture Acquisition of farm inputs for Cattle Breeding Rivers State 73
21 Transnational Green Pastures LTD 95,000,000 Agriculture Part-finance importation of broiler farming plant Oyo State 69
22 Food Solutions Livestock Limited 450,000,000 Agriculture Expansion of Poultry farming operations Oyo State 87
23 Lofeta Global Merchants Company Limited 120,000,000 Agriculture To finance the construction of a 20,000 per day automated poultry processing plant Oyo State 74
24 Wewood Limited 1,000,000,000 Agriculture Finance 100% cost of warehouses Edo State 84
25 Premier Seed Nigeria LTD 500,000,000 Agriculture Financing of Seed production Kaduna State 80
26 Taraba Farms Limited 500,000,000 Agriculture Livestock Production and commercial grazing Taraba 57
27 Crutech Consultancy Services Limited 60,000,000 Agriculture Finance establishment of an integrated agricultural farm Cross River State 73
28 Lanre Shittu Motors 1,900,000,000 Manufacturing For the expansion of phase 2 of local Automobile assembling Plant FCT, Abuja 75

First Batch of 100 For 100 Approved Applications As At January 28, 2022. Source: cbn.gov.ng

The approved applications are the first batch as the apex bank says the credit facility would be made available for qualified companies every 100 days and released the guidelines for the application process.

What CBN Should Do Next:

The efforts of the government through CBN should be commended. But disbursing these monies are not enough. We expect the apex bank to constitute an independent body that will monitor the progress of the programme.

Among other responsibilities of the monitoring group should be:

  1. to ensure that the monies are spent for the purpose they are meant,
  2. to report any infractions by the beneficiaries.

One of the major problems confronting Nigeria is the inability to monitor the progress of brilliant ideas and programmes by the government as we’ve seen in the past

We hope that the 100 for 100 PPP by the apex bank will not be another opportunity to dole out monies to those who are politically connected to heavyweights in the political corridor.

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