CBN Reiterates Commitment to Livestock Production in Nigeria

The Central Bank of Nigeria (CBN) has reiterated its commitment to supporting livestock production in the country. 

         Livestocks

Dr Mudashiru Olaitan, Director, Development Finance Department of CBN, made this known Thursday in Yola while addressing a workshop for stake holders on Sustainable Financing of Livestock Development in Nigeria organised by the apex bank.

Represented by Sani Mohammed of Yola branch of CBN, Olaitan urged other institutions to emulate CBN in supporting the livestock sector.

“CBN as a major stakeholder in the financial sector and indeed the economic development of the country is set to give its unflinching support to development of the ruminant livestock sub-sector by providing affordable long-term financing to producers, out-growers and processors. 

“It is expected that other stakeholders will borrow a leaf from this commitment and play their respective roles more vigorously to enable us achieve our common aspiration.”

 Olaitan who noted that the livestock sub-sector accounts for one-third of Nigeria’s agricultural gross domestic product, said the workshop would focus on financing options for the establishment of modern facilities for ruminant livestock management.

“Raising a new generation of pastoralists and livestock entrepreneurs through the adoption of modern technologies, creating awareness and enabling knowledge exchange amongst research institutes, government agencies and livestock farmers. 

“Creating synergy between financial institutions and livestock value chain investors and sensitizing pastoralists and other livestock investors on available financing options particularly anchor borrowers programme,” Olaitan said. 

Participants at the workshop including representative of Pastoral Resolve (PARE), Dr Ahmed Bello and a member of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Mallam Suleiman Sani who spoke lauded the development and urged for such programme to be domesticated at the local government level to reach the local herdsmen. 

The News Agency of Nigeria (NAN) reports that highlights of the workshop was the presentation of papers on livestock value chain, diary development, animal husbandry and financing options among others. 

(NAN)