The University of Ilorin (UNILORIN) has secured N600 million loan from the Central Bank of Nigeria (CBN) to establish a commercial poultry farm to boost eggs and chicken production.
Prof. Mikhail Buhari, the Deputy Vice-Chancellor Research, Technology and Innovation, stated this on Monday while speaking with newsmen.
Buhari said that UNILORIN was the only institution that got the highly competitive loan.
He said that when established, the GG Max Poultry Farms would play a key role in the agro-based business toward the revival of the poultry sub-sector.
According to him, this will reduce importation and close the existing demand and supply gap of eggs and allied poultry products.
The deputy vice-chancellor said that the university got the loan based on the brilliant proposal it submitted which was rated as the best of presentations made by competing universities.
“The university would be running the farm with the support of an external consultant,” Buhari said, adding that the farm was situated at Amoyo in the Ifelodun Local Government Area.
He said that when operational the farm would produce 5,000 broilers per week and raise 9,000 day-old broilers weekly.
He added that it would maintain a layers’ population of 16,000 which translates to 3,679,200 eggs per year.
According to him, the project is targeted at building the spirit of entrepreneurial skills among students as it would also generate employment opportunities.
He said that it would be run as a typical business venture with its own board of directors and would be accountable to the Vice-Chancellor.
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