Oyo to Benefit From $200m Livestock Loan

Abiola Ajimobi of Oyo StateAbiola Ajimobi of Oyo State
  • Oyo to Benefit From $200m Livestock Loan

A Senior Economist with the World Bank, Mr Samuel Taffesse, says Oyo State is among the 16 states that will benefit from a $200m loan to improve livestock production.

He made the disclosure on Thursday in Ibadan during the visit of a team of World Bank officials and representatives of the Federal Ministry of Agriculture to the Commissioner for Agriculture, Natural Resources and Rural Development, Mr Oyewole Oyewunmi.

The News Agency of Nigeria quoted Taffesse as saying, “The demand for livestock in Nigeria is higher than the supply. The Federal Government of Nigeria sought the assistance of the World Bank in developing livestock.

“About 16 states, including Oyo State, have signified interest as requested by the Federal Ministry of Agriculture,”

Taffesse said that the objective of the programme was to enhance livestock production as well as develop resilience and strong value chain.

Oyewunmi, in his remarks, noted that the delegation observed that livestock production had been negatively affected by the effects of climate change and other ecological factors.

He stated, “The World Bank and the Federal Ministry of Agriculture are determined to intervene in rejuvenating the livestock industry in Oyo State and some others.

“The livestock covers some value chain, namely poultry, piggery, sheep and goats, cattle and honey. So also, we have some by-products such as hides and skin as well as dairy,’’ he said.

He stated that the World Bank would support the states through grants and soft loans.

The commissioner said that youths and women, who he noted constituted 70 per cent of the population, would benefit from the programme.

Oyewunmi also allayed the fears of the people on the issue of ranching, saying the programme was aimed at enhancing livestock production and development of the value chain.

He added, “We heard that the Federal Government is considering building ranches as a way of solving the perennial crisis between herders and farmers in order to curtail the social and political crises it was leading to.

“Oyo State has not taken any position on the issue of ranching, we have to see the modalities and methods to be used by the Federal Government.”

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Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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