Eight states sign $500m World Bank livestock development loan
Eight states – Adamawa, Borno, Gombe, Taraba, Kogi, Kwara, Niger and Oyo – have subscribed to a $500 million World Bank loan advanced to Nigeria for the development of livestock production, by signing their Subsidiary Loan Agreements (SLA).
The loan facility is being administered by the Livestock Productivity and Resilience Support Project (L-PRESS).
The L-PRESS National Project Coordinator, Sanusi Abubakar, at an engagement session in Yola, Adamawa State yesterday, said the project is tailored to provide support to livestock farmers, processors and marketers, and improve overall productivity.
According to Abubakar, all states are required to sign for their share of the loan before they can have it. He urged other interested states to act quickly.
Abubakar recalled that the project was launched by President Muhammadu Buhari on January 31, and Adamawa, which was the first state to sign the SLA, was chosen to host the first post-SLA Engagement Mission being attended by the six states of the Northeast.
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He said: “We are in Adamawa to meet with the six Northeast states on the smooth implementation of the project. We need to interact with project implementing units of the states. The states that have signed the agreement will have their funds. We need to engage with them for a smooth takeoff.”
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Commissioner for Agriculture Usmanu Yahaya said the L-PRESS loan facility would be invested in the dairy value chain to help the common man and further boost the already vibrant livestock industry of the state.
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“We have 12 cattle markets which have been rehabilitated and some expanded. So, we have a huge comparative advantage in livestock production,” Yahaya said.