Minister Commends DBN-LPRES Funding for Livestock Sector

The Minister of Livestock Development, Idi Mukhtar, has commended the Development Bank of Nigeria and the World Bank-funded Livestock Productivity and Resilience Support Project for financial support to the livestock sector.

He spoke at a regional training for Small and Medium Enterprises and Participating Financial Institutions under the LPRES project in Yola.

Mukhtar said bringing financial institutions, livestock producers and farmers together would help address financing challenges in the sector. He stressed the need for stakeholders to understand the livestock business and work closely with farmers to improve access to credit.

Managing Director of the Development Bank of Nigeria, Tony Okpanachi, said the LPRES project is designed to improve access to finance for livestock value chain operators. Represented by Ayodele Ojosipe, he said the engagement helps banks and businesses identify risks in livestock lending and develop suitable financial products.

He added that the bank provides credit guarantees through its subsidiary, Impact Credit Guarantee Limited, to encourage lending to livestock enterprises and support sustainable production practices.

Value Chain Consultant Heather-Ronke Akanni said the six-year programme, ending in 2028, is being implemented in 20 states and covers poultry, piggery, sheep, goat, dairy, hides and skins value chains. She said the project also supports conflict prevention, market linkages and capacity building to help businesses meet loan requirements.

Participant Cicilia Dauda said the training provided guidance on accessing loans to expand livestock operations and acquire equipment.