Business
Poultry Farmers Tasks FG On Export Policy Review
Poultry farmers in Abuja have called on the Federal Government to review the nation’s policy on exportation of agricultural raw materials to create employment opportunities for youths in the sector.
A cross section of the farmers said this in separate interviews with newsmen yesterday in Abuja, on the sideline of activities marking the Christmas celebrations.
Some of them said the problem of inaccessibility of raw materials was among the challenges militating against local production of poultry substances and job creation in the sector.
They also said that lack of adequate raw materials could hinder growth in the revenue generation of the nation’s Gross Domestic Product (GDP).
Others appealed to government to review its policy on exportation of materials used for processing of poultry feed to enable the business to thrive.
A farmer in Kuje, Mr Kunle Adeniyi, said that he stopped rearing poultry birds in April due to impact of unfriendly government policies on materials.
Adeniyi lamented that the price of vaccines, building of the poultry cage and other facilities required for the poultry farming had increased.
He said although government established policy to encourage people to engage in the farming, there were stringent principles that made it impossible for people to achieve the goal.
According to him, one major factor affecting poultry farming negatively was high cost of feed required for provision of nutrient.
“Instead of government to design policy that will bring about result in price reduction, it is rather exporting maize, when we can actually process such raw materials into finished products
“No country ever develops like that, government must review its policy to encourage poultry rearing and boost food production in Nigeria.
“It should monitor policies that are made to ensure the effective implementation; when you export raw materials it should enhance our economy.
“If you want to create jobs, is it by exporting raw materials? Government must review its policy to bring about self sufficiency and sustainable food security.
“We can never grow in the sector through such means; rather, government must come up with measures to process raw materials, to create more jobs and increase the GDP,” Adeniyi said.
Another farmer in Bwari, Mr Clement Nwanze, said that the business operation yielded profit for him, in spite of the ugly incidence of crisis that ensued during the Christmas celebration in Bwari.
He said inadequate finances, high cost of feed, vaccines and insecurity of the birds were major challenges in poultry production.
According to him, rearing of poultry birds is good because “I had a good-turn over, despite the fact that it was my first time in the business”.
“I started by rearing 22 chicks in July that matured into Broilers, although I lost three in the process the turn over was profitable, Nwanze said
“By this time next year, I hope government will have reviewed its policy on exportation of raw materials, to enable poultry farmers to key into agriculture as source of sustainable economy”.
A farmer in Nyanya, Mrs Mary James, decried cost of maize, millet, rice and fish often used in the feed production of poultry.
She urged government to ban exportation of such materials to create room for local production of poultry feed.
James said “if that is done government will be doing poultry farmers great help, because not only will many people venture into it, it will also reduce cost of doing poultry businesses”.
“Exporting a finished product that has added value will promote Gross Domestic Product, but to export raw materials which are major source of production, will lead to business loss.”
She noted that if that was done, it would help to improve the culture of poultry production and ensure profit maximisation in the business.
The Central Bank of Nigeria (CBN) yesterday said 33 banks have met new minimum capital requirements under its recapitalisation programme, raising a combined N4.65 trillion to strengthen the financial system.
The apex bank disclosed this in a statement marking the end of the exercise, which commenced in March 2024 and drew participation from domestic and foreign investors.
The statement was jointly signed by the Director of Banking Supervision, Olubukola Akinwunmi, and the Acting Director of Corporate Communications, Hakama Sidi-Ali.
The statement said “Over the 24-month period, Nigerian banks raised a total of N4.65tn in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.”
The regulator said local investors accounted for 72.55 per cent of the funds, while international investors contributed 27.45 per cent, reflecting continued confidence in the sector.
Commenting on the outcome, the CBN Governor, Olayemi Cardoso, said in the statement, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
It added that while 33 banks have complied with the new thresholds, a few others are still undergoing regulatory and legal processes.
The statement noted, “The CBN confirms that 33 banks have met the revised minimum capital requirements established under the programme.
“A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.
“All banks remain fully operational, ensuring continued access to banking services for customers.”
The apex bank stressed that the exercise was executed without disrupting banking operations, ensuring uninterrupted access to services nationwide.
It further stated that key prudential indicators have improved, particularly capital adequacy ratios, which remain above global Basel benchmarks.
The minimum ratios were set at 10 per cent for regional and national banks and 15 per cent for banks with international licences.
The bank also said the recapitalisation coincided with a gradual exit from regulatory forbearance, a move it said improved asset quality, strengthened balance sheet transparency, and enhanced overall stability.
To preserve these gains, the CBN said it has reinforced its risk-based supervision framework, mandating periodic stress tests and adequate capital buffers for banks.
It added that supervisory and prudential guidelines would be reviewed regularly to strengthen governance, risk management, and resilience across the sector.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” the statement said.
The Tide learnt that foreign capital inflows into Nigeria’s banking sector rose by 93.25 per cent year-on-year to $13.53bn in 2025, up from $7.00bn recorded in 2024, amid the ongoing recapitalisation drive by the Central Bank of Nigeria.
Data from the National Bureau of Statistics capital importation report showed that the banking sector remained the dominant destination for foreign capital, accounting for $13.53bn of the total $23.22bn recorded in 2025, representing 58.26 per cent of total inflows, up from 56.81 per cent in 2024.
The surge reflects heightened investor interest in Nigerian banks as they raised fresh capital to meet new regulatory thresholds introduced by the apex bank, with industry-wide recapitalisation activities driving large-scale inflows across all quarters of the year.
However, the Centre for the Promotion of Private Enterprise (CPPE) recently raised concerns over weak credit flows to small businesses despite recent banking sector reforms.
The CPPE, led by a renowned economist, Dr Muda Yusuf, acknowledged that the ongoing bank recapitalisation exercise by the CBN has strengthened the financial system, but warned that the benefits have yet to translate into meaningful support for the real economy.
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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