Business
Plateau Poultry Farmers To Access N220bn CBN Loan
Chairman, Plateau
Poultry Farmers Association (PAN), Mr Julius Gusan said that farmers in the state would access the Central Bank’s of Nigeria’s (CBN) Micro, Small and Medium Enterprise Fund.
Gusan told newsmen in Jos that the CBN had on February 11, held a sensitisation workshop for poultry farmers to educate them on the facility.
He said the farmers were informed of the conditions that they needed to satisfy to benefit from the scheme which would be facilitated by the association.
“We as farmers will access the loan through micro-finance banks and we have gone ahead to open accounts with some micro-finance banks for our farmers to access the loan.
“It is not going to be a problem because we are going to guarantee our farmers to take the loan to expand their farms, generate more income and improve their standard of living,’’ he said.
He disclosed that the inclusion of his members to access the loan and the sensitisation workshop was as a result of the training they received from the Industrial Training Fund (ITF).
“The CBN knew that PAN members received training from the ITF and therefore, they can now handle poultry issues,’’ he said.
Gusan said the new office accommodation the association inaugurated last week was to enable it to operate in a better environment and be more accessible to farmers.
“The office is a centre for us to coordinate the activities of all the farmers ranging from production to marketing of poultry products,” he said, adding that they were talking with feed millers that produce quality and standard feeds to bring and keep them there so that farmers could buy.
“The same thing with hatcheries; so that quality day-old chicks are supplied to our farmers. “So, they will come here and verify which ones they will go for and we will advise them accordingly,’’ he said.
He advised poultry farmers who had yet to register with the association to do so without delay to benefit from the gesture.
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.
