Federal Government of Nigeria has been called to increase financial support package for the livestock industry in the country in order to save it from critical situation and imminent bankruptcy.
Making this call during a chat with AgroNigeria, a former Dean, Faculty of Agriculture, University of Ilorin, Prof. Abiodun Adeloye observed that cost of animal feed has risen relentlessly while demand for poultry products has slowed down, which is now forcing many farmers to leave the industry in droves.
While urging the government to help struggling farmers cope with disease outbreaks, falling prices and lack of resources, he pointed out that livestock producers were feeling the pinch of prices of corn, soybeans and other livestock feed that increases on a daily basis, with severe losses which has never being experienced in the sector, staring them in the face.
“There is need for tripartite links between livestock farmers, feed suppliers and banks to help the livestock sector solve long lasting problems such as increased input costs, unstable prices and outlet for their products.
“The livestock sector, mostly consisting of small-scale house hold farming, out dated techniques and a shortage of investment for farming, has been experiencing a difficult time, as farmers struggle to access loans and could not conform to environmental protection regulations” he said.
Proffering solutions, Adeloye advised financial institution to offer farmers loans with preferential interest rates, considering their strategic importance to the economy coupled with the fact that today, increased in our population growth does not commensurate with food production.
No Comment