Economy

Lagos Consumes N1.6bn Worth of Cattle Daily

Published

8 years ago

September 30, 2016

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending on Thursday said about 8,000 cattle and small ruminants valued at N1.6bn were being consumed in Lagos State daily.

The Managing Director, NIRSAL, Mr. Aliyu Abdulhameed, stated this at a programme to celebrate the movement of the second cattle train of 15 wagons from Nguru, Yobe State, to Oko-Oba, Lagos.

This is coming about three weeks after the movement of about 500 cattle was done by train from Zamfara State to Lagos under the farm to market scheme

NIRSAL is an initiative of the Central Bank of Nigeria to catalyse a national agricultural revolution by boosting food productivity and security through the mechanism of de-risking the agricultural value chain in order to encourage investment by banks and the entire financial sector.

The farm to market scheme, which is being operated under a partnership with Connect Rail Services, a bulk freight and logistics service provider, will also enable the transportation of tomatoes, vegetables and other perishable food items by rail within the next few months.