About 18,722 projects in Niger states have accessed intervention loans of the Central Bank of Nigeria. This reflects the unwavering commitment of the Bank towards poverty alleviation, job and wealth creation, and overall sustainable development of the economy. Below are some testimonials from businesses and individuals in the states who have benefitted from some of the interventions introduced by CBN.
ORTOLAN FOODS LIMITED
Intervention: Real Sector Support Facility- Differentiated Cash Reserve Ratio (RSSF-DCRR)
Sector: Manufacturing
The agricultural value chain is full of enthusiastic players committed to realizing the dreams of the President of the Federal Republic of Nigeria on food security.
Ortolan Foods Limited stands out as an agro-allied company involved in the production, processing, and trading of rice. Ortolan currently cultivates 4 (four) hectares of farmland at Maje Dikko road, Suleja in Niger state.
Ortolan Foods Limited accessed the Real Sector Support Facility- Differentiated Cash Reserve Ratio (RSSF-DCRR), an initiative of the CBN. The facility enabled the purchase of milling machines and accessories, the procurement of rice paddies, and the purchase of 200-tonnes storage capacity facility.
The expansion of the company has allowed for the creation of job opportunities for 80 indirect staff and 30 direct staff to ensure a steady supply of its products to the Nigerian market.
HAUWA IBRAHIM NDANUSA
Intervention: Agri-Business Small And Medium Enterprises Investment Scheme (AGSMEIS)
Sector: SME
To ensure increased participation of the female gender in the Micro, Small and Medium Enterprises (MSME) sector of the economy, the Central Bank of Nigeria (CBN) established the Micro, Small, and Medium Enterprises Development Fund (MSMEDF), which prioritizes a huge percentage of its lending to Women Entrepreneurs.
Hauwa Ibrahim Ndanusa, who operates a small business along Western bypass in Bosso LGA of Niger state is one of such women that accessed the AGSMEIS loan. The loan enabled her to purchase 30,000 birds that lay approximately forty (40) crates of eggs per day. Her increased spate of business necessitated the employment of six (6) additional staff to increase the efficiency of her business operations.
Hauwa is full of joy and continuously expresses her gratitude to the CBN for aiding in the realization of her dreams. She encourages women to key into the CBN’s commitment to women-led businesses by accessing any of the several interventions of the Apex Bank.
RAKIYA SAIDU IDRIS
Intervention: Agri-Business Small And Medium Enterprises Investment Scheme (AGSMEIS)
Sector: SME
“Looking good is good business”. This adage rings true in Nigeria. Rakiya Saidu has capitalized on women’s affinity for fashionable clothes and ventured into business as a fashion designer in Niger State. Today, Rakiya stands proud of her craft and is confident that her designs will someday be on the world stage. She owes the success of her business to the loan she accessed under the Agribusiness Small and Medium Enterprises Investment Scheme (AgSMEIS), which enabled her to scale up her small business, and hire staff to meet up with her customers’ demands.
ALHAJI KUDU SANKI
Intervention: Targetted Credit Facility (TCF)
Sector: SME
Mr. Kudu Sanki learned carpentry at a tender age. This skill acquired at a young age enabled him to set up a furniture shop in Bida, Niger state with the funds he accessed through the Targeted Credit Facility, an intervention of the CBN.
Mr. Kudu’s carpentry shop is famed for producing durable sofas, wardrobes, tables, and chairs that showcase master craftsmanship. The loan he accessed was utilized in the purchase of genuine leather and other carpentry equipment. He is now able to produce furniture that meets the specification of his clientele.
As a result of the funds he accessed, his business has created employment opportunities for more staff. This has increased his capacity to manufacture more furniture and enabled him to make more profit, and take better care of his family.
