Central Bank Of Nigeria (CBN)- Request For Proposal For Private Sector Companies Participation Under The 100 For 100 Policy On Production And Productivity (PPP)

CENTRAL BANK OF NIGERIA SELECTION CRITERIA FOR PRIVATE SECTOR COMPANIES PARTICIPATION UNDER THE 100 FOR 100 POLICY ON PRODUCTION AND PRODUCTIVITY (PPP)

(1) BACKGROUND This is the operational framework for a robust and transparent process for identifying and selecting high-impact companies and projects under the CBN’s 100 for 100 Policy on Production and Productivity (PPP). These are projects that must catalyse sustainable employment-led economic growth through increased domestic production and productivity in the near term. The projects for consideration shall be new projects in existing companies requiring new machinery and other support and must have the greatest potential to achieve significant scale in their in-country production and for domestic consumption and exports.

(2) OBJECTIVES The broad objective of this new CBN’s 100 for 100 PPP financial instrument is to reverse the nation’s over-reliance in imports, by creating a platform that targets and supports the right companies and projects with potential to immediately transform and jumpstart the productive base of the economy.

(3) SELECTION CRITERIA The selection criteria for participation under the CBN’s 100 for 100 for PPP shall be premised on immediate contribution to economic growth, jobs creation, and social impact.

In selecting the companies and projects therefore, the following evidence -based, transparent and measurable criteria shall be deployed.

Key Areas Parameters Indicators Score Production Efficiency and Scalability Capacity Utilization and Scalability (20) Historical Financial performance (3 years audited report of the company) (5)

Viability of the Business (10)

Creditworthiness of Directors (5) · Highly satisfactory -full score (AAA)· Satisfactory – mid-score (A A)

Partly satisfactory – quarter score (A) Unsatisfactory – nil score (0) Local Content Capacity Scale of locally sourced raw materials (20) 50% of raw material input sourced locally (15)

80% of jobs created should be for Nigerians (10) Highly satisfactory-full score (AAA) Satisfactory -mid-score (AA) Partly satisfactory- quarter score (A) Unsatisfactory-nil score (0) Job Creation & Human Capital Development Job Creation and Capacity Building (20) Job Creation Training and Skills development (10) Highly satisfactory-full score (AAA) Satisfactory – mid-score (AA)

Partly satisfactory – quarter score (A) Unsatisfactory – nil score (0) Contribution to Economic Growth Impact on key macroeconomic indicators and Global Export Earning potential (40) Contribution to GDP potential (5) Share of domestic market (10) Foreign exchange earning potential (15)· Ease of Exports (15) Highly satisfactory-full score (AAA)

Satisfactory – mid-score (AA)

Partly satisfactory – quarter score (A) Unsatisfactory – nil score (0)

(4) SCORE DEFINITION

Highly Satisfactory Satisfactory Less Satisfactory Unsatisfactory Project meets stipulated requirements by 81-100% Project meets stipulated requirements by 61-80% Project meets stipulated requirements by 51-80% Project meets stipulated requirements by 0-50%

The CBN Intervention under the 100 for 100 PPP Instrument shall provide. (1) Naira Intervention Funding under existing CBN Intervention Processes;

(2) Complete FX funding for new machinery;

(3) This instrument is for only new projects; will not cover any refinance of existing facilities and will be subject to independent evaluation by international Audit firms.

(4) All intervention under this project will be made public and published in national dailies.

The CBN will work with fiscal authorities to facilitate power sector, port and export reforms as well as ease of doing business to improve competitiveness in Nigeria so as to complement and propel this initiative.

Candidate companies with satisfactory performance are invited to apply through their banks effective, today 1 November, 2021, to the CBN Department of Development Finance, Office of The Governor, Central Bank of Nigeria, Central Business District, Abuja with complete documentation.

SIGNED: DIRECTOR, DEVELOPMENT FINANCE, OFFICE OF THE GOVERNOR, CENTRAL BANK OF NIGERIA

Central Bank Of Nigeria (CBN)- Request For Proposal For Private Sector Companies Participation Under The 100 For 100 Policy On Production And Productivity (PPP)

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