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The Federal Government, with the support of the Central Bank of Nigeria (CBN), has disclosed plans to launch a N10 billion fund for the National Egg Production Scheme (NEPRO) in the country.
The target of the scheme is to achieve a daily production of 50 million eggs over the next five years for the purpose of local consumption, export and processing into egg powder for use in confectionaries and pharmaceuticals.
The Minister of Agriculture and Rural Development, Audu Ogbeh, during a press conference announcing the launch of the programme in Ondo State, disclosed that the programme would provide one million jobs nationwide through egg production, processing and marketing.
Noting that there may have been a loss of four million jobs in the city last year, additional one million jobs from the egg production would increase the number of jobs created in the sector. Ogbeh disclosed that the loan to be provided by the CBN will be disbursed by the Bank of Agriculture (BoA), at a single digit interest rate of nine percent, and would be piloted in six states of Abia, Cross River, Ondo, Kebbi, Kogi and Ondo.
Photo Caption: Crate of Egg
