CBN, UNILORIN partner on N600m integrated commercial poultry farm

The University of Ilorin (UNILORIN), in partnership with the Central Bank of Nigeria (CBN), has commissioned an integrated commercial poultry farm with a N600 million loan.

Speaking during the official commissioning of the project at Amoyo community in the Ifelodun local government area of Kwara State, the vice-chancellor of the university, Professor Age Sulyman, said that the poultry farm is expected to contribute to food security in Nigeria.

The Vice-chancellor also said that the project would help to bridge the wide gap between the demand for poultry products and the supply brought on largely by the ban on the importation of poultry products.

He said that the poultry farm would make the University of Ilorin see a huge leap in its Internally Generated Revenue (IGR), “making money available for critical aspects of the university’s operations, especially in the areas of research and physical development.

“Our research efforts will also be boosted by the farm as it represents a veritable laboratory for the students and the staff. The 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 white-collar jobs-seeking graduates”.

“The journey has been long and hard for us as a university. The university took a N600m loan from the CBN at a concessionary interest rate of 9% (5% for the first year) and a repayment period of six years, with a moratorium on the repayment of the principal for one year. Zenith Bank PLC is the Participating Financial Institution (PFI) in this project. Accessing the loan required the university to set up a Special Purpose Vehicle (SPV) for the project. The SPV is Unilorin Bizface synergy Limited a Limited Liability Company registered with the Corporate Affairs Commission.

“At the height of construction, the site had over 200 artisans earning their daily sustenance from it. Today, the farm has 55 full-time employees and has created space for our students to work on a part-time basis as they study. The university has also set aside the sum of N5 million for an Out-grower programme for the students of Agriculture, Veterinary Medicine, and allied courses in the Faculty of Education. To date, these have been our modest contributions to generating employment and lightening up the local economy.

“This 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. Another backward integration planned is the establishment of its own hatchery. As a forward integration, we are planning to establish an egg-powder production facility. In 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.”

Also speaking, the CBN governor, Dr Godwin Emefiele, said that despite 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 stands at and outstrips the current supply by 1.2million metric tonnes and 140,000metric tonnes for meat and eggs respectively.

Represented by the CBN director, development finance, Ayila Yusuf, the CBN boss said that the demand gap had driven the smuggling of unhealthy frozen chicken into the country.

“Over the years, this demand gap has driven the smuggling of unhealthy frozen chicken into the country. To 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. One of such schemes is the Tertiary Institutions Poultry Revival Scheme which was conceptualised specifically for Tertiary Institutions to design and implement viable poultry projects

“Presently, over 40 tertiary institutions have expressed interest in the scheme through different commercial banks to implement various projects.

“Such deep and broad interest by Nigerian Tertiary Institutions will definitely culminate in the sustainable development of the Nigerian poultry industry, I enjoin other tertiary institutions to key into the scheme in order at the broad-based benefits are realised for all,” he said.

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