Alternative Bank hands over livestock feed innovation project to Plateau varsity

The Alternative Bank Ltd. has handed over its Alfalfa Cultivation Project to Plateau State University (PLASU) as part of its commitment to advancing agricultural research and sustainability in Nigeria.

The bank said this in a press statement made available to newsmen signed by its Group Head, Structured Trade and Commodities Finance, Mr Gbenga Awe, on Wednesday in Lagos.

Supreme news reports that the Alternative Bank is a non-interest banking window in Sterling Bank, which commenced operation in 2014 with a vision to create a dynamic banking experience that respects individuality and speaks the language of its customers/partners.

In July 2023, the Central Bank of Nigeria issued a banking licence to The Alternative Bank, enabling it to operate as a fully-fledged, standalone bank.

Awe said the initiative, structured under a Corporate Social Investment framework, aims to deepen research into the viability of Alfalfa farming, an essential livestock feed with the potential to revolutionise Nigeria’s livestock value chain.

“The project, initially piloted in partnership with sector experts and PLASU, provides critical insights into optimising local Alfalfa cultivation for scalable impact.

“With this handover, PLASU will spearhead further research and development while engaging the Plateau State Government to explore widespread implementation.

“The Alternative Bank will continue to provide funding and strategic support to ensure long-term success.

“This partnership is not just about cultivating Alfalfa. It’s about building a sustainable ecosystem,” Awe said.

He added that the bank had invested in key infrastructure to ensure the project’s success, highlighting the university’s ambitious target of 10 tonnes per hectare in Alfalfa yield.

The acting Vice Chancellor, Plateau State University, Prof. Shedrack Gaya Best, highlighted the milestone in the university’s legacy of agricultural development.

“This is a great day for us. Bokkos has a rich history in livestock, and this project reinforces our commitment to innovation and impact,” Best said.

Representing the Federal Ministry of Livestock Development, Mr Richard Mbaram, Special Adviser on Knowledge Management and Communication, described the initiative as a model for national replication.

“This project reflects the vision of the administration of President Bola Ahmed Tinubu to grow the livestock sector’s GDP contribution and place youth and women at the center of that growth,” Mbaram noted.

Mr Solomon Okonkwo, Head, Corporate Social Investment, The Alternative Bank, restated the bank’s long-term vision for impact: “Beyond financial services, our mission is to drive meaningful change through investment in strategic sectors.

“Agriculture is a cornerstone of national development, and we believe research-driven solutions like this will empower farmers, boost food security, and contribute to economic resilience,” Okonkwo said.

The handover marks a milestone in corporate-academic collaboration, demonstrating how research-backed initiatives can reshape the agricultural landscape.

With the Alfalfa Cultivation Project now under PLASU’s leadership, stakeholders anticipate ground-breaking advancements that will serve as a catalyst for sustainable livestock farming in Nigeria.