L-PRES loan initiative: Empowering livestock farmers in Nigeria

Dayo Thomas

The Livestock Productivity and Resilience Support Project (L-PRES) has launched a livestock loan scheme aimed at supporting farmers, processors and marketers in Nigeria’s agricultural sector. The initiative forms part of a broader effort to improve productivity, competitiveness and resilience in the livestock industry, with a focus on empowering youths and women.

The loan is available to livestock farmers in eight states that have signed Subsidiary Loan Agreements (SLAs) with the Federal Government. The states are Adamawa, Borno, Gombe, Taraba, Kogi, Kwara, Niger and Oyo.

The loan facility is drawn from a $500 million World Bank livestock development fund, offering farmers a significant opportunity to access finance and expand their businesses.

The L-PRES loan initiative is designed to strengthen business planning skills in livestock farming, improve access to funding for livestock enterprises, and boost productivity and market access. Through these objectives, the project aims to contribute to the overall development of Nigeria’s agricultural sector and improve the livelihoods of livestock farmers.

To access the loan, prospective beneficiaries are required to develop viable and bankable business plans, which will serve as the basis for securing financial support. This requirement ensures that farmers have clear business roadmaps and are well positioned to utilise the funds effectively.

For more information on L-PRES livestock loans, interested applicants can contact Agricnews Digest.