First Cohort of Pilot Scheme Proves Avenue for Job and Wealth Creation
Ekiti State, Nigeria — The first cohort of a pilot scheme aimed at job and wealth creation has concluded, yielding significant achievements and promising a scalable model for future cohorts. The initiative, initially launched as a trial, has demonstrated substantial potential for economic impact.
Achievements During the 1st Cohort:
- Successfully trained 20 youths from the initial 43 participants.
- Raised and produced 40,000 broilers (10,000 per cycle) with plans to target 100,000 per cycle by 2025.
- Established structured markets for the offtake of all broilers produced.
- Provided stipends to participants during the four cycles.
- Realized approximately N15 million in profits over the four cycles.
- Provided befitting accommodations equipped with solar energy.
- The government provided a shuttle bus for transportation to and from the farm.
- Participants registered a cooperative in their name.
Exit Propositions and Support:
- Provision of pens to be leased to participants, supported by the LPRES and World Bank programs.
- Expansion into private sector-led meat processing and value addition.
- Profits earned will serve as seed capital, and participants will start as a cooperative.
- Additional support with maize to reduce production costs.
- Guaranteed markets for their products.
- Free mentorship programs on poultry production and financial education.
- Participants will become trainers for the second cohort, with compensation provided by the Ministry.
The success of this initiative underscores the profitability of agribusiness and its potential to transform lives through structured training and support. Many thanks to His Excellency, Governor Biodun Oyebanji, for his unwavering belief in the scheme and his fatherly support.
Agribusiness is proving to be a profitable and sustainable venture, with promising prospects for future cohorts and broader economic impact.
