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UNIILORIN VC appeals to CBN for extension granted on N600m facility – VELOXNEWS


From LAYI OLANREWAJU, Ilorin

Vice Chancellor, University of Ilorin, Prof Sulyman Age Abdulkareem Thursday appealed to the Central Bank of Nigeria (CBN) for an extension of concessionary granted on the N600m loan facility it accessed for the institution’s commercial poultry farm beyond one year .

The poultry farms known as Unilorin GMAX Integrated Commercial poultry farm, is an integrated commercial poultry farm established under the tertiary institutions poultry revival scheme (TIPRES) of the Central Bank of Nigeria , a vision of Governor Mr Godwin Emefiele.

The vice chancellor who said the institution venture into the project as the first university to access the TIPRES facility as part of its contribution to boost food security and meet the growing needs for poultry

He however said for the multi- million naira project to thrive, the CBN should consider an extension of its concessions on interest for its NGN600m loan beyond the February deadline.

“Let me quickly make this request for our own interest and the sake of those of others who are pushing this loan.The downward review of interest rate on the loan from 9percent to 5 percent must continue beyond February 2023 for this business to flourish”,

Abdulkareem said the farm, established on 30, 000 hectres of land has a broiler pens with a total installed capacity of 40,000 and a broiling processing unit with a capacity to process 1,000 broilers daily.

“At the height of construction, the site had over 200 artisans earning their daily sustenance from it .Today, the farm has 55 full term employees and has created space for our students to work on 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 facility of Education.

The CBN governor Godwin Emefiele who was represented by Edwin Nzelu , Deputy Director and Secretary to ACGSF. Agricultural credit guarantees scheme fund praised the management of university for taking advantage of the scheme to boost the nation’s food security.
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