16 June 2016
In preparation for the launch of the proposed ‘Free Feeding for School Children’ initiative, the Federal Government has signed a N25 billion contract with Tuns Farms to oversee egg production in the country.
This was disclosed by the Minister of Agriculture and Rural Development, Audu Ogbeh.
The project, tagged National Egg Production Scheme (NEGPRO), aims at upscaling the output of egg production to 50 million eggs daily and also to create 1 million jobs between now and 2018.
Audu Ogbeh assured of government’s readiness to assist saying, “we are ready to give the necessary support to make the farms grow and be able to grow others.”
Speaking further about the partnership, the Minister said the initiative will help reduce malnutrition in children.
Chairman of Tuns Farms, Olatunde Badmus revealed that the project would be funded by the Central Bank of Nigeria, through the Bank of Industry with additional assistance from the Ministry of Agriculture.
Badmus said: “The ministry appointed Tuns as consultant and manager of the scheme, to create 1 million employment through the scheme and produce 50 million table eggs daily by 2018.”
He added that “the Ministry of Agriculture will assist the BOI to access N25 billion from the CBN under the agricultural scheme.
“The BOI will select some commercial banks that will participate in it and loans under this programme would be at single digit rate.”