CBN’s N23bn Loan Signposts Buhari’s Commitment To Diversify The Economy – BMO

The granting of N23.20 billion loan support to 28 companies whose projects were selected for funding by the Central Bank of Nigeria (CBN) has reaffirmed the Muhammadu Buhari administration’s commitment to empower qualified and genuine local investors to boost production and productivity in various sectors of the economy for the benefit of all.

This latest intervention loan support fund tagged “100 for 100 policy for production and productivity” is part of CBN’s series of interventions to assist local indigenous companies over the last six and half years of the Buhari administration. The overall objective is to create the flow of finance and investments to enterprises with the potential to catalyse sustainable economic growth trajectory, accelerate structural transformation, promote diversification and improve productivity.

In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, the Buhari Media Organisation (BMO) noted that this CBN latest intervention will go a long way to assist in complementing the Federal Government’s efforts to transform and catalyse the productive base of the economy in its deliberate efforts at diversification.

The group also commended the CBN Governor for his role in macro-economic stabilisation which was aided by the protection and eventual liberalisation of the foreign exchange window “which gives priority to the most productive sectors thereby laying the foundation for a robust and diversified economy.

“We are convinced that the latest initiative of the CBN will go a long way to significantly measure domestic production and productivity, reduce imports, increase non-oil exports and an overall improvement in foreign exchange as well as generate an increase in the capacity of the economy”.

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The group also appealed to beneficiaries of the CBN loan to make judicious use of the funds in line with the guidelines and conditions attached with the fund and ensure repayment as and when due.

BMO urged Nigerians to continue to show support for the President as he gradually consolidates on his achievements in this last lap of his eight years in office.



Borno State Governor, Prof. Babagana Zulum’s position that 90 per cent of repentant Boko Haram terrorists in the North-East zone of the country are truly remorseful former terrorists should not be taken lightly.

The governor had announced this after the inauguration of the Presidential Committee on the Repatriation, Return and Resettlement of Internally Displaced Persons (IDPs) in the North East at the Presidential Villa, Abuja.

The Buhari Media Organisation (BMO) in a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, noted that this revelation by the Borno State Governor is a testimony to the fact that the strategies being deployed by the President Muhammadu Buhari administration are working.

“Most of the terrorists are being smoked out of their holes in the Sambisa forest. Similarly, it is remarkable that many of the terrorists are scampering to safety due to the firepower of the military that the President has unleashed on them.

“With such deployment of military power, the Boko Haram terrorists are beginning to realise the futility of their nefarious activities, hence they are choosing to surrender.

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“We also acknowledge the fact that the return of the internally displaced persons to their communities is a clear demonstration that peace is gradually returning to the North East region. unlike in the past when the Boko Haram terrorists ran amok with their leader, late Abubakar Shekau, spewing hate messages and propaganda against the State and people of Nigeria.

“We also believe that the kinetic and non-kinetic approaches being used by the military in executing the war against terrorism are working well, and eventually the same tactics will be deployed to the bandits in the North-West zone of the country”.

BMO believes that what all these point to is that President Muhammadu Buhari’s pledge to fully restore peace in the restive North East and North West zones will come to pass.

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