The Central Bank of Nigeria has approved an N600 million loan to the University of Ilorin (UNILORIN) for the establishment of a commercial poultry farm to increase egg and chicken output.
The university’s Deputy Vice-Chancellor for Research, Technology, and Innovation, Mikhail Buhari, stated this to journalists on Monday.
UNILORIN was the only university to receive the highly competitive financing, according to Mr Buhari, a professor.
GG Max Poultry Farms, he said, will play a major role in the agro-based industry toward rebuilding the poultry sub-sector once it was created.
This, he claims, will cut importation and close the demand-supply imbalance for eggs and other poultry products.
The institution received the loan, according to the deputy vice-chancellor, because of the outstanding plan it submitted, which was recognized as the best among rival universities’ presentations.
“The university would be running the farm with the support of an external consultant,’’ Mr Buhari said, adding that the farm was situated at Amoyo in the Ifelodun Local Government Area.
He claims that once the farm is up and running, it will be able to produce 5,000 broilers per week and raise 9,000 day-old broilers on a weekly basis.
He also stated that it will maintain a 16,000-layer population, resulting in 3,679,200 eggs every year.
According to him, the project is aimed at encouraging students to develop entrepreneurial skills while also providing job chances.
