25 billion naira for the National Egg Production (NEGPRO) scheme to boost poultry sector.

Investment into the poultry value chain just got a boost from the Nigerian government by injection of 25 billion naira through the national egg production scheme. NEGPRO scheme involves many farmers who are in the business of egg production. The Federal Ministry of Agriculture and Rural Development, on Tuesday, June 14, 2016, in Abuja, signed a Memorandum of Understanding (MoU) worth N25 billion on National Egg Production (NEGPRO) scheme, with Tuns Farms Nigeria Limited. The selection of Tuns Farms to lead the group of farmers was based on certain criteria, essentially anchored on the track records of performance. Under the terms of the deal, Tuns Farms will recommend eligible entrepreneurs to access the N25 billion facility as well as, endorse their loan requirements and application, and monitor their activities within the scheme. The Bank of Industry(BOI) has a role in providing finance for the takeoff of the scheme, an initiative aimed at increasing egg production and giving the poultry sector in the country a boost. This will ensure that about 50 million table eggs daily by 2018. The scheme, which would be funded by BoI, would create one million jobs at full capacity. more