Govt, firm sign N25b MoU on egg production


Tuns Farms Nigeria Limited said it has signed a N25 billion memorandum of understanding with the Federal Government to increase egg production under the National Egg Production Scheme (NEGPRO) initiative.

The NEGPRO is an initiative of the Federal Ministry of Agriculture aimed at increasing the output of egg production in the country to 50 million table eggs daily by 2018.

The scheme also aims to create about 1 million jobs at full capacity, empower as many farmers as possible, increase contribution of poultry sector to GDP of Nigeria and increase internally generated revenues to the federal government.

Chairman of the company, Asiwaju Olatunde Badmus, told journalists at the signing of the MoU in Abuja on Tuesday that the ministry of agriculture would assist the Bank of Industry (BOI) to access N25 billion from the Central Bank of Nigeria (CBN) to finance the project.