Recently, the Federal Government and Tuns Farms Nigeria signed a Memorandum of Understanding (MoU) worth N25 billion to increase egg production in the country to 50 million table eggs daily by 2018.
Speaking on how this task will be achieved, the Chairman of Tuns Farms, Olatunde Badmus, said the farm would recommend entrepreneurs that will access the N25 billion from the Central Bank.
He lamented “today our country is faced with economic challenges occasioned in part by over reliance on receipts from crude oil sales. Present challenges in the global market has made us vulnerable and reinforced the need for better route to economic prosperity.”
He reiterated the commitment of Tuns Farms to supporting the government in its bid to grow the nation’s economy through the agricultural sector.
The government envisages that the scheme would create about one million jobs at full capacity, empower as many farmers as possible, increase contribution of poultry sector to GDP of Nigeria and increase Internally Generated Revenues to the Federal Government of Nigeria.
As the consultant and manager of the scheme, the firm would recommend eligible entrepreneur to access facility of N25 billion under CBN Anchor Borrowers Scheme through the Bank of Industry (BOI).
It was also gathered that the farm would also endorse loan requirements and application of entrepreneurs. This is to keep applications from the entrepreneurs within size and scope of their business and relevance to the scheme.
As the consultant, “the farms shall develop and market customized and standard feed concentrate in collaboration with relevant regulatory agencies for the purpose of this scheme to ensure quality and uniformity of result,” the chairman said.
Also, the farm would monitor activities of entrepreneurs involved in the scheme to ensure that the resources are channelled towards the right track, he said.
The farms would assist the BOI through the National Technical Committee in the selection process of commercial banks to disburse and recoup the N25 billion anchor borrower facility from CBN.
The farm would also select entrepreneurs/stakeholders across the country for recommendation to the technical committee for final ratification and appointment to participate in the scheme.
According to source from the farm, these entrepreneurs/stakeholders would handle production/purchase and supply of inputs for the scheme i.e day old chicks, feeds, drugs and vaccines.