Central Bank of Nigeria (CBN) has released a total sum of N12.552 billion to large, medium and small-scale poultry farmers nation wide as part of strategy to boost eggs and meat production as well as create job opportunity in the country.
The CBN recent report showed that between the last quarter of 2019 and November 2020 farmers in the poultry chain received funds amounting to N12,552,000,000 from various commercial banks and NIRSAL microfinance Bank.According to the report, Large scale companies benefited from the CBN various intervention programme include Fortune Height and Animal Care from 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 Agri-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS) window include Elabi farms in Beyelsa and Aladeyelu farms in Ondo.The apex bank however said 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.In the same vein, 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.
The Director of Development Finance Department, CBN, Mr Philip Yila Yusuf who confirmed the development said disbursement of funds to farmers was on going process, adding that more farmers are being shortlisted for the loan.
