CBN’s retreat from industry funding intervention

The Central Bank of Nigeria’s (CBN’s) withdrawal from direct intervention funding for manufacturers comes at the worst possible time for an already pressured sector. Instead of moderating the pain from President Bola Tinubu’s harsh economic adjustments, this move risks deepening a credit squeeze that threatens Nigeria’s industrial base.
On paper, the decision has one clear attraction: a cleaner separation between monetary policy and development finance. Removing direct i