CBN Unveils University-based Poultry Revival Program

CBN Unveils University-based Poultry Revival Program

Must Read

Lagos State Government bans Okadas, Tricyles, including Opay, Gokada

…Restricts Their Operations On 50 Highways, Bridges Lagos State Government on Monday wielded the big stick against the menace of...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -
- Advertisement -

In fulfilment of its resolve to diversify the economy, create jobs and engender inclusive economic growth in the country, the Central Bank of Nigeria (CBN) has launched an intervention programme aimed at reviving the comatose poultry sub-sector in the country.

Announcing the latest efforts of the Bank on Monday, July 8, 2019, at an event in the Head office, the Governor, Mr. Godwin Emefiele, said the Bank had selected various institutions across the country that would form the pilot team to be used in running the University-based Poultry Revival Programme.

CBN Unveils University-based Poultry Revival Program

The programme, according to Emefiele, who was represented by his Deputy in charge of the Economic Policy, Dr. Joseph Nnanna, will produce chicken meat and eggs in order to reduce importation and close the existing demand and supply gap

He added that it would also raise a new crop of entrepreneurs in the agricultural sector in modern poultry production; provide the infrastructure that would support the sustainable production of poultry; and reduce pressure for foreign exchange demand through import substitution by local poultry production.

Read:  Nigeria's September Manufacturing PMI expands to 57.7 points

The Governor also disclosed that the Bank had obtained information on the capacity of the institutions selected in terms of their poultry pens, hatcheries, feed mills, size of crop farms and number of tractors for grains production. The Bank also got details of their commercial viability, bankable business plan, including processing facility, as well as all information relevant in enriching their participation in the programme

Emefiele further disclosed that the CBN relied on the University based poultry production model because they had existing infrastructure, experience and human assets to enable production at reduced cost and in a competitive manner

Read:  Mouka Quality Sleep, Smarter Kids Essay Contest

 He promised that the Bank would commit considerable human, material, and financial resources in monitoring both the disbursement and utilization of the funds to be released to the institutions, adding that the participating institutions would be required to submit periodic returns on disbursements as well as an analysis of the impact of the fund they receive. The CBN, according to him, would also undertake regular on and off-site checks to ascertain the veracity of the reports received.

Read:  Keystone Bank to Empower Undergraduates at Career Insight Day

Speaking on behalf of the poultry farmers in the country, Mr. Ezekiel Ibrahim, who is also the chairman, Poultry Association of Nigeria (PAN), said that poultry farming presented the best in terms of return on investment, adding that the country would not have been talking of job creation if poultry had been given the right attention it deserved.

He noted that the sector had faced the challenges of smuggling and lopsided siting of hatcheries, which he said was making it difficult for the movement of day-old chicks across the country.

Several academics from various universities and agricultural research institutes in the country and other professionals in poultry and related fields attended the one-day meeting in Abuja.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

History as Lagos raises N100 Billion Bond to Finance Infrastructure

…Sanwo-Olu: ‘It’s A New Journey Toward Developing Lagos’ Lagos State Government has opened a new chapter in its stride towards attaining self-sustenance in finance...

Stanbic IBTC Holdings Plc FY’19 – Trading gains keep earnings afloat

CardinalStone Research Stanbic IBTC Holdings Plc (STANBIC: TP 47.14 - HOLD) released unaudited FY’19 results, which revealed relatively flat earnings of N75.0 billion (FY’18: N74.4...

Coronavirus: UAE Case A Warning For Global Tourism

The United Arab Emirates Ministry of Health has announced a diagnosis of a coronavirus case in a family from Wuhan in China – the...

Nigerian Insurance In 2020: Mergers & Acquisitions

The National Insurance Commission (NAICOM) anticipates several M&A transactions in Nigeria in 2020. No lesser than six insurance companies have notified the regulator of...

More Articles Like This