The Central Bank of Nigeria (CBN), in furtherance of its funding interventions in key sectors of the economy, has given the University of Ilorin (UNILORIN) a N600m loan to establish a commercial poultry farm to boost eggs and chicken production.
The institution’s Deputy Vice[1]Chancellor Research, Technology and Innovation, Prof. Mikhail Buhari, gave this hint on Monday while interacting with journalists.
Buhari explained said that when established, the GG Max Poultry Farms would play a key role in the agro-based business toward the revival of the nation’s poultry sub-sector and by so doing reduce importation and close the existing demand and supply gap of eggs and allied poultry products.
The university don said that the university secured the loan based on its submitted proposal for the credit, adding that the institution’s proposal was rated as the best amongst others submitted by other universities.
According to him, the university will be running the farm situated at Amoyo in the Ifelodun Local Government Area with the support of an external consultant for operational and production efficiency and standardization. Buhari projected that when operational, the farm would be producing 5,000 broilers and raise 9,000 day-old broilers weekly In addition, he explained the farm would maintain a layers’ population of 16,000 which translates to 3,679,200 eggs per year.
On the long term target of the institution on the farm, the Deputy Vice Chancellor said the project was aimed at building the spirit of entrepreneurial skills among the students with a view to providing employment opportunities from which they can leverage on after their academic studies.
Buhari further said the farm would be properly managed as a business enterprise with its own board of directors who would be accountable to the Vice-Chancellor.