The federal government has set the obligor limit (the maximum amount that a single applicant can access in relation to its total shareholders fund) for the N250 billion intervention fund for gas value chain businesses at N10 billion each.
The government also said 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 adviser to the minister of state for Petroleum Resources, Chief Timipre Sylva, listed the criteria in Abuja on Sunday when she addressed journalists.
They are technical feasibility, overall business plan and skills and experience output of the business plan as they must meet the government’s national objective of creating skilled and unskilled employment.
Another criterion is the social economic impact of the business plan and what percentage of internally generated revenue it would contribute to the state in which the applicant plans to operate.
Others are the financial feasibility of the plan, economic and finance models of the plan and the environmental feasibility of the plan.
Attaga said 27 applications have been received and they have an obligor limit of N10 billion each.