Federal government sets 10 billion naira limit for candidates

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The federal government has set the debtor limit (the maximum amount that a single applicant can access out of its total shareholders’ fund) for the N250 billion intervention fund for gas value chain companies. at 10 billion naira each.

The government also said that investors must meet seven criteria before they can be considered eligible to access the fund.

The CBN launched the intervention fund last August.

Ms. Brenda Attaga, technical advisor to the Minister of State for Petroleum Resources, Chief Timipre Sylva, listed the criteria in Abuja on Sunday when she addressed reporters.

These are the technical feasibility, the overall business plan and the skills and experience of the business plan, as they must meet the government’s national goal of creating skilled and unskilled jobs.

Another criterion is the socio-economic impact of the business plan and the percentage of internally generated income that it would contribute to the state in which the applicant plans to operate.

Others are the financial feasibility of the plan, the economic and financial models of the plan, and the environmental feasibility of the plan.

Attaga said 27 requests had been received and each had a debtor limit of N10 billion.

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