Business
Livestock Chairman Tasks FCT On Soft Loans
Chairman, Dei-Dei International Livestock Market, Alhaji Yahaya Pate, has appealed to the FCT administration to provide soft loans for small-scale businesses to boost the nation’s economy.
Pate made the appeal on Thursday in Abuja in an interview with The Tide source.
He observed that many people who had acquired business skills by working with others in numerous businesses had no capital to set up their own businesses.
He also called on the FCT administration to assist traders in the market by providing the necessary infrastructure.
“We have visited some markets in Niger Republic, Chad and Cameroun and we have seen a big difference from our own set up. That is the reason why we always say we are being neglected.”
“There, traders are provided with all the basic requirements needed for an ideal livestock market while we have nothing to show as the structures here are decayed,” he said.
According to Pate, animals such as camels, cows, sheep, goats and poultry from different countries in Africa are sold in the market.
He said that about 300 cows, 600 goats and rams were slaughtered in the market daily.
He stressed that animal dealers paid their taxes direct to the government while traders paid at the entrance to the market.
Alhaji Haruna Ali, a cow dealer, also urged the Federal Government to provide them with the necessary support to boost their business.
“Other African countries have gone to the level of providing international passport for their people in the livestock business, which guarantees them to go anywhere to transact business,’’ he said.
Alhaji Sada Kusada, who also doubles as the market leader, expressed regret that the government had yet to fulfill all the promises it made during the inauguration of the market by former President Olusegun Obasanjo in 2003.
“All the promises made to us during the inauguration have not been fulfilled.”
“As I am talking to you now, our men who bring livestock from other African countries do not have a place to sleep, they have to manage this small hut you see here.
“Some of them come all the way from Bakin Burji, Maradi, Sabon Mashi, Chaduwa, Aci Lafia all in Niger Republic; some come from Gamborun Gala in Chad and others come from Cameroun Republic.
He stressed that the market lacked infrastructure such as perimeter fencing water supply, access roads and electricity.
According to him, more than six articulated vehicles conveying livestock are offloaded daily in market.
“We have eight lorries conveying 20 cows each and 10 vehicles conveying 300 goats and rams every day to this market,” he said.
On the cost of livestock, Kusada said the price of cows ranged from N30,000 to N250,000 depending on their size, while the price of goats ranged from N4,500 to N13,000.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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