By Emma Ujah, Abuja Bureau Chief

ECONOMY

The Central Bank of Nigeria (CBN) has released the sum of  N12.552 billion to large, medium and small-scale poultry farmers in the country  as part of its strategy to boost egg and meat production while creating more jobs in the sub-sector.

Sources at the apex bank disclosed yesterday that the funds were released to the farmers between the fourth quarter of 2019 and November 2020 through various commercial banks and the NIRSAL Microfinance Bank.

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According to the source, large scale companies that benefited from the CBN intervention programmes included Fortune Heights and Animal Care, both in Ogun State; Dasco Engineering in Lagos, Olam Hatcheries in Kaduna, Eastern Plains in Anambra State and Emmpek Farms in Delta State. Other beneficiaries listed under the  Agri-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS) window include  Elabi Farms in Bayelsa and Aladeyelu Farms in Ondo.

It was learnt that 639 poultry farmers that applied through the regular AGSMEIS window had also received funds as Autonomous Poultry farmers, through NIRSAL MFB, to the tune of  N1.996 Billion.

Similarly, the sum of  N1.591 billion has been disbursed to  898 poultry farmers across the country to ameliorate the impact of COVID-19 on their operations.

Confirming this, the Director, Development Finance Department at the apex bank, Mr. Phillip Yila Yusuf, said the disbursement of funds to farmers was an on-going process as more farmers are being shortlisted for the loan.

According to him, additional fund will be disbursed to poultry farmers before the end of 2020 to guarantee, among other objectives, improved output, affordability and accessibility of eggs, broiler meat and day-old-chicks; assured market for egg-producers through off-take; employment creation for existing and new poultry farmers and improved protein intake for Nigerians.

The CBN in 2019 partner 12 universities from the six geo-political zones of the country in a pilot scheme known as university-based Poultry Revival Programme aimed at  further addressing the demand gap and unlocking the potentials of Nigerian poultry industry through the involvement of universities.

Meanwhile,  some large-scale poultry farmers that have benefited from the intervention schemes of the CBN have lauded the bank’s measures in the sector, noting that in the post-COVID 19, the poultry sector in Nigeria would witness a great boost.

Vanguard News Nigeria