DAILY T RUST
19
Monday, February 20, 20 12
Au.t omotive council plans N1 bn micro-credit for mechanics THE Nallonal AutomolJvc Council (NAC) lin said il has concJuded arrans~nu to Ilunch a NI billion micro credilS facility for retooling the luto m«hanll3 In the
country.
N200bn Agric credit: 190 beneficiaries shared N151 bn -CBN ONE bundrnt anti ninely bendldatln mack up of 163 pril'alc promol· «J and 27 stalc gove rn· mmu $hared IIIC sum o f NISl.OIS billion al N1.0 billion cach from t ' IC NZOO Billion Commcrchl Agrlcullurc Crntil Schemc (CACS) sincc In· cpt Ion in 2009. This bape<rt (rom the Fcdcn1 Capital 1 crritory (Fens N16.0 mJI on According 10 • rclcasc: from thc I)c"dopmcnl Finana' Dcp.lrtnlC'Il of lhc Central Bank of Nigc ria (C8N)on thcacliYlttcs, lhc unil said as It r>cccmbe r 2011, tMsum oCU I 4.00 bil· lion was rdcasaJ Ie 9 banks with rcspcc:' 10 I I CACS projms. bringillS th e
loc ~ 1 rde~5CI try lite e RN linu inception in 2009 10 N 151.0 161Mliion.It Aid the balance ofCACS fund. I S II December 20 II now stands I I N43.93.f billion TheCKNAidN984mil lion for FCT wu withdrawn (rom two de-posit money
Unity Bank Pic, Zenith Bank ''Ie. Diamdhd Bank PIc, Sterling. Citi~nk. Wema and MaiM.ream
by
prodUCI ion
wh ich
ICCOUnted for 29.1 per cent
of tM value of enlerprises financed.. These were foI· lowed by marketing and "nk. lllc lpex b.nlt Aid a.m- stonge wh k h registcred ys:1s of number- of projects 10." per cent and 4.9 per finallced under CACS by cenl rcspcdivdy," e RN said
SpnkinJ to J\eW$IIlCI1 on the lKtlVlhCS of the council In Abop. NAC Dfrec:toroflndustrial Infrastructural Dtpart menl Engr. WahcuI K()(ktoro said thc facdlty whICh Is due !'oJ bunch next month Is ahead,. In about nme micro finance banks through the Bank oflnduSlry_ --rhe m«hania wiU form lhcnucl..-u Inlocoopcratlvcs of 10 10 20 membcr-s 10 be able to acccu lhc funds. By the cod of March, the K hcme will be formally launched. It Is not pnS to be I tbcorctlcal Launch because!: atl those equipmcnu lIlat lhc m«hanks wtli be pro¥KIcd Wllh, wouJd MVC been acqrurcd by then: he said E"!I". Odctoro said the council will soon viSIt iOme spcdr~ "ale ~rnorl In the m gco-political IDIlCS and fewothen for the purpose of cst'lhlbhins mechanIC vii lages across Ihe country uslnglhe Public Pnvate Partner shlpmodd. -rbe stlte govcmmmis will only provide certirlCllcd bod and plans and by o r befon tM cod of March, the Director GcnnaI would have SC'Curcd Ipproval to a~rd lhe outllnC busiflCS$ c:uc study. an Ibridged fnsibllity study thai willidl us what caeh of the states will nced 10 addItionally illJCCI on Infnl5tructure like electridt y. water 10 the mcchan k viUagc SIIes,· he said. llcsaid by Ihccnd of the ynr, the council Is plannins to go into intcrmoorW biddinS where reputable construction rmru from Europc.l.alin Amcna. auna couklcome and tWovcr the dcYdopmcnl of the m«fwIk vdbgcs. "The planned rnecbaok villages according to the direc: lor will among others be equipped with buic Infra~ruc lUres with active mechanical, dcctrical workshops. with facllit;c, for auto mcc:Iutronia scrvkcs.lChools. hOIpltals. minl--acatc fOf the m«han ks.. -n.b is ourown way ofbringmg invalmcnu Into th lt country bcaUJC a large chunk of money avcrag1Rg abou l NIO 10 N20 billion may be used to ~cIop a partkullr village: Maid.
period.
TRUST INDEX
banks: UOA 1'11:. N484 0 oulofthc IfiJCACS prlvalt Ddta Slate government million .nd URN Pte SKlor sporuorf'd prot«lS. ac«Ucd CACS fund. The NSOO_O million in Decem- production aa:ou nlcd for number of Slate govern-
\1.200
value chain showed thai
bft20 11 duelocontnftnlion of the Khcmc guide-
44 pn a nt and domiMilcd the activities funded whik
It Aid (rom incqHion to
41.1 ~t (tol ThC:5(' act! ..i ties werc distantly followed by marketing lind sloDge wh kh regb ln"Cd 8 pcr cmt and 6.75 pcr cent respeetivdy. · With ~rds 10 the value of funds rdcaKd. processing accounted for 55.6 pcr cent foilowN
,,""-
dale, ] 6 b.mo ~rlkipatcd under the Scheme. 1l1~ include Acccu Bank I'lc. Fkklily Bank, First Bank of N'Fria. GlUlratlty Trust Bank. Ocranic Bank Pte, Skye Bank. Scanbk IBTC, Umon Hank of Nigeria. Unlln! Bank for Africa.
processing accoonlN for
"Ouring
Ihe
ments partkipaling in the K hemc thcrdo re stands at 27. Th~ state go-tcrnmcnl$ acctsSCd fuods (or on -lending 10 fanners' unions, co-operatives and financing of o ther lleas of agrkuhunll interven· tlons in their nrlow stales.. ProjeclS moniloring an· cbe in the Slates ",,'cn' conducted during the yur: it Slated.
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