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Nigeria: Heritage Bank’s N2bn loan boosts Triton’s foods export to Europe, African countries

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Barely two years after Heritage Bank and the Central Bank of Nigeria (CBN) disbursed a N2billion loan for the construction of  Triton fish/chicken processing factory in Oyo state, the firm has commenced export of frozen foods to some parts of Europe and African countries.

The loan that was given under the Commercial Agricultural Credit Scheme (CACS) in 2017, fast tracked the production of Triton’s fish/chicken in Oyo and sold as Big  Sams in Poland, Romania, Egypt, Liberia and Ivory Coast among other countries.

The move by Heritage Bank was part of efforts to support the real sector, boost foreign exchange, unlock food and wealth creating potentials in the nation’s agricultural space.

TAAL, also known as Triton Farm, accessed the CACS through Heritage Bank to set up aquaculture businesses- nursery/hatchery for the production of fingerlings and brood stock in Ikeja; and earthen ponds for catfish and tilapia in Asejire, Iwo and Gambari towns in Oyo State.

Triton Farms emphasised that its strategy is to embrace backward integration through production of fish locally and reduce its importation of frozen fish, as well as assist small scale farms by producing quality breed fingerlings.

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