The Central Bank of Nigeria, CBN says it has invented the Tertiary Institutions Poultry Revival Scheme conceptualised specifically for Institutions to design and implement viable poultry projects.

CBN Governor, Godwin Emefiele stated this at the official commissioning of the University of Ilorin GGMAX Farm, at Amoyo in Kwara State.

He described the Nigerian Poultry sub-sector as a trillion naira industry with huge potential for individuals and national socio-economic development.

The CBN Governor who was represented by Deputy Director and Secretary to Agricultural Credit Guarantees Scheme Fund, Edwin Nzelu maintained that despite Nigeria being the largest producer of eggs and second largest producer of chicken meat in Africa, demand gap for eggs and meat outstrips current supply by 1.2Million Metric Tonnes and 140,000Metric Tonnes for meat and eggs respectively.

Emefiele explained that the demand gap has brought about the smuggling of unhealthy frozen chicken into the country, hence, CBN introduced various Intervention Schemes focused on boosting poultry production, creating decent jobs, and fostering innovation in the poultry sub-sector.

While noting that over Forty tertiary institutions have expressed interest in the Scheme through different commercial banks to implement various projects, he encouraged other institutions across the country to follow the University of Ilorin’s example which no doubt would create jobs and practical experience for agriculture students and additional income layer for institutions.

Declaring the program open, Kwara State Governor, Mallam Abdulrahaman Abdulrasaq, said that the state is committed to maintaining a conducive environment for Agriculture and livestock production in particular.

Represented by Commissioner for Communication, Mr Towoju George, Mallam Abdulrasaq reiterated the support of the government for livestock production in Ilorin and expressed hope that the University of Ilorin GGMAX, which is the pioneer farm among all institutions in Nigeria would fill up the huge demand for poultry meat.

Vice-Chancellor, University of Ilorin, Professor Sulyman Age Abdulkareem revealed that the University took a loan of N600,000,000 from CBN at a concessionary interest rate of 9% with a repayment period of 6 years.

Professor Abdulkareem said that the farm has 6 fully built Broilers’ pens with a capacity for 5,000 birds each and another 2 of similar capacity, under construction, to raise the total installed capacity to 40,000 Broilers 4 fully built Layers’ pens currently housing 70,000 layers though with an installed capacity 33,000, a Feed mill with an installed capacity of 5tons per hour, a semi-automated Broiler Processing Unit with a capacity to process 1000 birds per day and a Manure Processing Unit.