Adamawa, Kogi, Oyo, 5 Others Take $500m Livestock Loan

Adamawa State and seven others have subscribed to Nigeria’s $500 million World Bank livestock development loan for the diversification of the agricultural value chain.

The other states are Borno, Gombe, Taraba, Kogi, Kwara, Niger and Oyo states. The national project coordinator, Livestock Productivity and Resilience Support Project (L-PRESS) Mr Sanusi Abubakar, made the disclosure at the post-SLA engagement mission for North East states in Yola.

Abubakar said all the states are required to sign for their share of the loan before they draw for the development of livestock production.

The loan being administered by L-PRESS is to support livestock farmers, processors and marketers and improve overall productivity.

“The eight states that have signed their Subsidiary Loan Agreements (SLA), with the Federal Government are Adamawa, Borno, Gombe, Taraba, Kogi, Kwara, Niger and Oyo states.

He noted that successful implementation of the L-PRESS project will boost the Nigerian livestock industry, enhance productivity, competitiveness and resilience in agriculture sector.

“We are in Adamawa to interact with project implementing units for the states that signed the agreement to have their funds.”

Adamawa State commissioner for agriculture, Usman Yahaya, in his remarks, said government has launched N100billion agribusiness support programme to create more jobs for the state.

He said the homegrown Agribusiness Programme is expected to boost the economy of the state with improved internally generated revenue (IGR) by providing 750,000 direct jobs and 1.5 million indirect jobs for the youths.

He said the state has a comparative advantage over others, having over 12 cattle markets rehabilitated.