From Jude Dangwam, Jos
The Executive Governor of Plateau State has expressed the readiness of his administration to partner with the Central Bank of Nigeria (CBN) and access the various developmental initiatives plans of the apex bank for the transformation of the state by his administration.
He said the Central Bank of Nigeria (CBN) is a critical institution and that his government would always look forward to having a very cordial, productive and beneficial relationship.
The Governor stated this when the Acting Branch Controller of CBN Jos, alongside his Management team pay a courtesy visit to the Executive Governor at the New Government House Little Rayfield in Jos.
According to him, “I assure you that if you hadn’t looked for us we will look for you, but is good you look for us, it shows your interest in our State, it shows your passion for our State. I want to thank you for showing us how we can benefit from the initiative of the Central Bank.
“We will be coming after these developmental initiatives, we will take the N10 billion, we will take the N2 billion. Also to assure you that under our supervision, unlike some of the issues of failure you had with the anchor borrower’s scheme, that whatever we put our hands on will not be a failure.
“We would want to make Plateau State a proud testimony of the Central Bank. That the initiatives they have embarked upon are worthwhile,” he assured the Apex Bank management.
The Acting Branch Control of Central Bank of Nigeria (CBN) Jos, Mr Jonah Akama earlier disclosed that the CBN has some developmental initiatives that the state government can key into it for the development of its people, the state and the country in general.
He said the plans cut across agriculture, health sector and manufacturing industry respectively. “The Central Bank has been intervening in some sectors of the economy such as agriculture, health sector and SMEs, as well as the real sector (Manufacturing industry)
“We have a window in the anchor borrower’s which is the State government window where the state can come in and then get this fund from Central Bank for onward lending to farmers of the State.
“The state government can take advantage of this, is a loan of 9% interest per anum and you can cultivates any crops of your choice that you have comparative advantage in. And Plateau is an agrarian State, we have intervened in rice, maize, cotton, wheats, sorghum on the Plateau but the main crop which is potatoes hasn’t been done under the anchored borrower’s on the Plateau. So, this is a commodity we are looking at, I hope the state can look at that to see how we can up the production of potatoes on the Plateau.
“We also have the Commercial Agric Intervention (CAT) which has to do with purchase of farm equipments. The intervention is also at interest rate of 9% per annum, and the tenure is 7 years. The difference between Anchor borrowers and the CAT is that Anchor borrowers are for production only but CAT is for the purchase of equipments.
“The CBN has faced in the real sector support fund which is the manufacturing, it also comes at 9% interest rate and the maximum amount you can access from there is N10 billion and the tenure is 7 years but that is purely for manufacturing no buying and selling. You can do primary production, you can also manufacture.
“We also have a hand in the health sector, as a response to the COVID-19, the CBN introduced the Health Sector Support Intervention Fund, which is geared towards intervening in the health sector. This has to do with the purchase of hospital equipment, building of hospitals, renovations, building of diagnostics Centres, even gyms, and anything that has to do with health. A maximum of N2 billion can also ne access from that intervention Fund at 9% interest per anum,” he explained.