Business
Expert Canvasses Strengthening Of Livestock Programmes
The Managing Director
of a development social enterprise organisation, Real People Concept, Ibadan, Mr Olawole Olagbaju, has called for the strengthening of livestock improvement programmes in the country.
This, he said, would help meet the demand of livestock consumers and improve production in the country.
Olagbaju made the call in an interview with newsmen in Ibadan on Thursday.
He also called for improvement in capacity building in livestock programmes through assisted reproductive technology.
Olagbaju noted that livestock production was a major aspect of agriculture and a major source of animal protein requiring great attention.
Research, he said, had revealed that the demand for livestock products, especially milk and meat, had greatly exceeded supply due to small-scale production methods.
“It’s obvious that the future of commercial animal production is dependent on viable and efficient artificial insemination.
“The benefits of artificial insemination cannot be overemphasised considering its great impacts on the future and sustainability of commercial livestock production.
“This is the reason our establishment canvassed for modern animal reproduction in Nigeria in the last six years,” he said.
Real People Concept, which is registered with the Corporate Affairs Commission (CAC), is committed to developing livestock production.
The organisation is also focused on building local capacity with modern animal reproduction technological solutions.
Olagbaju, an animal reproduction technologist, the organisation was working on rapid multiplication of improved local chicken using modern animal reproduction technology.
“We engaged in rapid multiplication of rabbit for household consumption and research purpose.
“We also facilitate training of veterinarians in Nigeria using ultrasound scanner for rapid animal reproduction.
“Also our modern animal reproduction solution embraced by several institutions across Nigeria has recorded huge success in providing animal reproduction.
“Our solution has been conveniently aiding bovine pregnancy detection at the Massohi farm located at Federal University of Technology, Minna.
“Since 2013, our modern animal reproduction solution has been in use for teaching and research at the University of Ibadan veterinary clinic,” he said.
He, however, emphasised that the organisation was open to partnership with individuals, governments as well as local and international development agencies.
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
