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

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://100for100ppp.ng/submit-application

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.