CBN Commits N10bn To Poultry To Drive 50m Daily Egg Production Target

By Nse Anthony-Uko
(Sundiata Post) – The Central Bank of Nigeria has committed N10bn intervention to the National Egg Production Scheme (NEGPRO) which is focused on developing the poultry sector and driving daily production of 50 million daily production.

On the heels of this intervention, the scheme would be piloted in six states selected from six-geopolitical zones on their comparative advantage and readiness to key into the scheme.

The beneficiary states include Ondo,Kebbi,Kogi,Cross River, Bauch and Abia State.

Recall that the Scheme ‎was initiated in June 2016, when the Federal Ministry of Agriculture and Rural Development signed a memorandum of Understanding (MoU) with TUNS Farms LTD to develop the National Egg Production (NEGPRO) Scheme.

Audu Ogbeh, Nigeria’s Minister of Agriculture informed newsmen on Tuesday in Abuja that the NEGPRO is aimed at aimed at strengthening the egg production, processing and utilisation capacity in the country.

Related Story:  El-Rufai inaugurates poultry diseases diagnostic laboratory

He adds that the overall objective of the scheme is to promote self -sufficiency in egg production and also develop the poultry value chains across the 36 states including the Federal Capital Territory.

According to the Minister, the scheme targets one million jobs nationwide through egg production,processing and marketing.

He adds that the target is to drive attainment of daily production of 50 million table eggs nationwide at full implementation.

Further findings reveal that after full repayment of the loan at 30 months,each farmer who gets the loan will be self-reliant in their business with physical assets worth over N2.8 million and cash assets of about N1.68 million.

Related Story:  Obasanjo tasks IITA to ensure research results get to farmers

Also, the targets in increasing the egg production is geared towards the creation of a solid raw material base for the development of secondary egg processing industry to complete the value chain;‎develop local capacity for processing of minimum of 75% of table eggs produced into shelf stable egg based products like the egg powder.

In her remarks, Mavis Fateh, who represented the director of ‎development financing in the Central Bank of Nigeria said the apex bank would be more determined to support initiative that ensures the federal government saves foreign exchange through supporting local production.

Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: +234(0)92900705, +234(0)8173460599
Whatsapp: +234(0)8053069436
BBM PIN: 5619150D
Email: info@sundiatapost.com
Website: www.sundiatapost.com

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838
https://twitter.com/sundiatapost/

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143
Dubai Office: PAU Management Suite, Level 23 - Boulevard Plaza Tower 2, Emaar Boulevard,
P. O. Box 124342, Dubai, UAE.
Tel: +971 4 4096849 | Fax: +971 4 409 6850
About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
ACCREDITED MEMBER
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate