CBN grants N12.5bn loan to poultry farmers

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The Central Bank of Nigeria has released the sum of N12.55bn to large, medium and small-scale poultry farmers in the country.
The intervention which was done under the Agri-Business/Small and Medium Enterprises Investment Scheme window is part of the CBN’s strategy to boost egg and meat production as well as create more jobs in the country.

Between the fourth quarter of 2019 and November 2020, farmers in the poultry value chain in the country received a total sum of N12,55bn from various commercial banks and the NIRSAL Microfinance Bank.
According to the Bank, large-scale companies that benefited from the CBN
intervention programmes include 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 are Elabi Farms in Bayelsa and Aladeyelu Farms in Ondo.

The CBN noted 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 N1.99bn.
Similarly, the sum of N1.591bn has been disbursed to 898 poultry farmers acrossthe country to ameliorate the impact of COVID-19 on their operations.

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