{"id":62811,"date":"2022-07-22T11:42:46","date_gmt":"2022-07-22T10:42:46","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=62811"},"modified":"2022-07-22T11:42:46","modified_gmt":"2022-07-22T10:42:46","slug":"cbn-partners-unilorin-on-n600m-commercial-poultry-farm","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/","title":{"rendered":"CBN Partners UNILORIN On N600m Commercial Poultry Farm"},"content":{"rendered":"

\"\"The University of Ilorin (UNILORIN) in partnership with the Central Bank of Nigeria (CBN) has inaugurated an integrated commercial poultry farm with a N600 million loan.<\/p>\n

Prof. Sulyman Abdulkareem, the Vice Chancellor of the university, who spoke at the official inauguration of the project at Amoyo community in the Ifelodun local government area of Kwara, said that the poultry farm was expected to contribute to food security in Nigeria.<\/p>\n

The vice chancellor said that the project would help to bridge
\nthe wide gap between the demand for poultry products and the supply is caused largely by the ban on the importation of poultry products.<\/p>\n

He said that the poultry farm would make the university have a huge leap in its Internally Generated Revenue (IGR), \u201cmaking money available for critical aspects of the university\u2019s operations, especially in the areas of research and physical development.<\/p>\n

\u201cOur research efforts will also be boosted by the farm as it represents a veritable laboratory for the students and the staff.<\/p>\n

\u201cThe students are also made to see first-hand the entrepreneurial side of what they are taught in the classroom, re-orientating them to a mindset of creators of employment in the agribusiness sector as agripreneur as against that of
\nthe white-collar jobs-seeking graduates.<\/p>\n

\u201cThe journey has been long and hard for us as a university. The university took a N600 million loan from the CBN at a concessionary interest rate of nine per cent and (five per cent in the first year).<\/p>\n

\u201cThere will be a repayment period of six years with a moratorium on the repayment of the principal for one year,\u201d he said.<\/p>\n

According to him, Zenith Bank PLC is the Participating Financial Institution (PFI) in this project.<\/p>\n

\u201cAccessing the loan required the university to set up a Special Purpose Vehicle (SPV) for the project. The SPV is UNILORIN Bizface synergy Ltd., a limited liability company registered with the Corporate Affairs Commission.<\/p>\n

\u201cAt the height of construction, the site had over 200 artisans earning their daily sustenance from it.<\/p>\n

\u201cToday, the farm has 55 full-time employees and has created space for our students to work on a part-time basis as they study,\u201d he said.<\/p>\n

Abdulkareem said that the university had also set aside N5 million for\u00a0an out-grower programme for the students of agriculture, veterinary medicine and allied courses in the Faculty of Education.<\/p>\n

He said that to date, these had been a modest contribution to generating employment and lightening up the local economy from the university.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cThis project has reverberating effects. As part of the backward integration, the university is developing a 2,000-hectare land for maize and soya beans cultivation for exclusive use on the poultry farm.<\/p>\n

\u201cAnother backward integration planned is the establishment of its own hatchery. As a forward integration, we are planning to establish an egg-powder production facility.<\/p>\n

\u201cIn all that we have done so far and what we plan to do, we have kept faith with our Total Land Use (TLU) policy that has been our abiding principle from day one of my administration,\u201d he said.<\/p>\n

Dr Godwin Emefiele, the CBN Governor said that in spite of the fact that Nigeria is the largest producer of eggs and the second largest producer of chicken meat in Africa, the demand gap for eggs and meat stood and outstripped the current supply by 1.2million metric tonnes and 140,000metric tonnes for meat and eggs respectively.<\/p>\n

The CBN governor, who was represented by Mr Ayila Yusuf, the Director, of Development Finance, said that the demand gap had driven the smuggling of unhealthy frozen chicken into the country.<\/p>\n

\u201cOver the years, this demand gap has driven the smuggling of unhealthy frozen chicken into the country.<\/p>\n

\u201cTo close this gap, the Central Bank of Nigeria has introduced various intervention schemes focused on boosting poultry production, creating decent jobs, and fostering innovation in the poultry sub-sector.<\/p>\n

\u201cOne of such schemes is the Tertiary Institutions Poultry Revival Scheme that was conceptualised, specifically for tertiary institutions to design and implement viable poultry projects.<\/p>\n

\u201cPresently, over 40 tertiary institutions have expressed interest in the scheme through different commercial banks to implement various projects,\u201d he said.<\/p>\n

Emefiele said that such deep broad interest by Nigerian tertiary institutions would definitely culminate in the sustainable development of the Nigerian poultry industry.<\/p>\n

He enjoined other tertiary institutions to key into the scheme in order for the broad-based benefits to be realised for all.NAN<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The University of Ilorin (UNILORIN) in partnership with the Central Bank of Nigeria (CBN) has inaugurated an integrated commercial poultry farm with a N600 million loan.\u00a0<\/p>\n","protected":false},"author":6,"featured_media":62812,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,5130,17],"tags":[36,125],"coauthors":[2391],"class_list":["post-62811","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-education","category-news","tag-cbn","tag-university-of-ilorin"],"yoast_head":"\nCBN Partners UNILORIN On N600m Commercial Poultry Farm - National Wire<\/title>\n<meta name=\"description\" content=\"The University of Ilorin (UNILORIN) in partnership with the Central Bank of Nigeria (CBN) has inaugurated an integrated commercial\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN Partners UNILORIN On N600m Commercial Poultry Farm - National Wire\" \/>\n<meta property=\"og:description\" content=\"The University of Ilorin (UNILORIN) in partnership with the Central Bank of Nigeria (CBN) has inaugurated an integrated commercial\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-22T10:42:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2022\/07\/Poultry-Farm-new-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"267\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2022\/07\/Poultry-Farm-new-1.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2022\/07\/Poultry-Farm-new-1.jpg\",\"width\":640,\"height\":267},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/\",\"name\":\"CBN Partners UNILORIN On N600m Commercial Poultry Farm - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/#primaryimage\"},\"datePublished\":\"2022-07-22T10:42:46+00:00\",\"dateModified\":\"2022-07-22T10:42:46+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"description\":\"The University of Ilorin (UNILORIN) in partnership with the Central Bank of Nigeria (CBN) has inaugurated an integrated commercial\",\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CBN Partners UNILORIN On N600m Commercial Poultry Farm\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CBN Partners UNILORIN On N600m Commercial Poultry Farm - National Wire","description":"The University of Ilorin (UNILORIN) in partnership with the Central Bank of Nigeria (CBN) has inaugurated an integrated commercial","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/","og_locale":"en_US","og_type":"article","og_title":"CBN Partners UNILORIN On N600m Commercial Poultry Farm - National Wire","og_description":"The University of Ilorin (UNILORIN) in partnership with the Central Bank of Nigeria (CBN) has inaugurated an integrated commercial","og_url":"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/","og_site_name":"National Wire","article_published_time":"2022-07-22T10:42:46+00:00","og_image":[{"width":640,"height":267,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2022\/07\/Poultry-Farm-new-1.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2022\/07\/Poultry-Farm-new-1.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2022\/07\/Poultry-Farm-new-1.jpg","width":640,"height":267},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/","name":"CBN Partners UNILORIN On N600m Commercial Poultry Farm - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/#primaryimage"},"datePublished":"2022-07-22T10:42:46+00:00","dateModified":"2022-07-22T10:42:46+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"description":"The University of Ilorin (UNILORIN) in partnership with the Central Bank of Nigeria (CBN) has inaugurated an integrated commercial","breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/cbn-partners-unilorin-on-n600m-commercial-poultry-farm\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"CBN Partners UNILORIN On N600m Commercial Poultry Farm"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/62811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=62811"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/62811\/revisions"}],"predecessor-version":[{"id":62813,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/62811\/revisions\/62813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/62812"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=62811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=62811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=62811"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=62811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}