Nigeria targets $70bn-plus livestock economy, eyes Africa’s production hub

Nigeria targets $70bn-plus livestock economy, eyes Africa’s production hub

President Bola Tinubu has set an ambitious target to more than double Nigeria’s livestock sector’s current $32 billion annual contribution to the national economy, signalling a major push by the Federal Government to turn livestock production into a major engine of food security, job creation and economic diversification.

Tinubu, who spoke on Monday in Abuja at the opening of the 9th All Africa Conference on Animal Agriculture, said his administration was determined to move Nigeria’s livestock industry beyond largely subsistence practices and position the country as a leading livestock production and processing hub in Africa.

The president, who was represented at the conference by the Secretary to the Government of the Federation, George Akume, said the livestock sector already contributed more than $32 billion annually to Nigeria’s economy and supported millions of livelihoods across the country.

“Our national strategy aims to more than double the sector’s economic contributions to position Nigeria as a leading hub for livestock production and processing in Africa,” Tinubu said.

In a statement signed by Special Adviser on Media and Publicity to the SGF, Yomi Odunuga, the target, if achieved, would push the sector’s economic contribution beyond $64 billion, potentially making livestock one of the country’s most significant non-oil sources of economic activity.

Tinubu said Nigeria possessed enormous livestock resources that could support the transformation, citing national estimates of more than 58 million cattle, 64 million sheep, 124 million goats and 660 million poultry species.

He said the administration had consequently placed agriculture and food security at the heart of its Renewed Hope Agenda, with the creation of the Federal Ministry of Livestock Development in July 2024 representing a major institutional step towards unlocking the sector’s potential.

According to him, the ministry was established to spearhead a comprehensive transformation of livestock production from traditional and largely subsistence systems to a modern, technology-driven, commercially competitive and globally integrated industry.

“The establishment of the Federal Ministry of Livestock Development marked the beginning of a comprehensive national livestock transformation programme,” he said.

The president said the government had also embarked on institutional reforms based on the recommendations of the Presidential Committee on Livestock Reforms, with the aim of improving governance, raising productivity, promoting peaceful livestock production systems and attracting greater private-sector investment.

A key component of the government’s strategy, he said, was the National Livestock Growth Acceleration Strategy, which is designed to unlock opportunities across the livestock value chain.

The strategy, according to Tinubu, focuses on increasing productivity, strengthening value chains, improving animal health services, expanding commercial feed production, enhancing livestock genetics and promoting climate-smart production systems.

It also seeks to improve peacebuilding around livestock production and position Nigeria as a regional destination for livestock investment and exports.

The president said the government was promoting ranching and other modern livestock production systems as part of efforts to increase productivity while addressing conflicts associated with traditional livestock production.

The renewed focus on ranching comes against the backdrop of persistent disputes between farmers and herders in several parts of the country, with the Federal Government increasingly linking modern livestock management to both economic development and peaceful coexistence.

Tinubu said the government was also encouraging investments across critical areas of the value chain, including dairy production, meat processing, leather, feed milling and livestock infrastructure.

He identified dairy as one of the areas with significant potential for reducing Nigeria’s import dependence and conserving foreign exchange.

According to him, Nigeria currently spends substantial foreign exchange importing milk, making increased domestic production a priority under the administration’s livestock transformation programme.

“Our ongoing dairy transformation programme seeks to double local milk production through improved genetics, better nutrition, modern breeding systems, and stronger private sector participation,” he said.

He said the programme would support improved animal breeds, pasture development, commercial feed production, milk collection infrastructure, private dairy investments and modern processing facilities.

Beyond food production, Tinubu said the livestock sector could become a major source of employment for Nigeria’s rapidly growing population, particularly young people.

“Millions of jobs can be created for our growing youth population in Africa. The Nigerian government is committed to fully optimising the value chain,” he said.

The president said his administration was also working to increase the participation of women and young people in livestock businesses by improving access to finance, digital technology, innovation, value-chain opportunities and private-sector partnerships.

He stressed that unlocking the full economic potential of livestock would require a shift from viewing the sector merely as a source of food to recognising it as an integrated commercial industry spanning production, processing, transportation, technology, finance and exports.

Tinubu also called for stronger cooperation among African countries, warning that challenges confronting livestock production could not be effectively addressed by individual countries acting in isolation.

He identified animal diseases, climate change, food insecurity, trade barriers and transboundary livestock movements as issues requiring coordinated continental responses.

“The future of Africa’s livestock industry depends on innovation, science, technology, and regional cooperation. No country can achieve sustainable livestock transformation in isolation,” he said.

The president said Nigeria would continue to support stronger regional cooperation under the African Continental Free Trade Area, particularly by promoting livestock production and trade across African markets.

He challenged delegates at the conference to move beyond policy discussions and develop practical recommendations that could accelerate transformation across the continent’s livestock industry.

Such recommendations, he said, should cover animal health and disease control, climate-smart production, livestock genetics, regional trade, youth and women empowerment, research, innovation and investment.

Tinubu assured the delegates that Nigeria was prepared to work with other African countries, development partners, research institutions and private-sector operators to build a livestock industry capable of competing in the global market.

“Together, we can transform Africa from a continent with enormous livestock potential into a global leader in livestock production,” he said.

The president subsequently declared the conference open, reaffirming Nigeria’s readiness to provide leadership in the continent’s livestock transformation agenda.

The conference comes as the Federal Government seeks to broaden the country’s economic base, strengthen domestic food production and reduce dependence on imports by developing agricultural value chains capable of generating employment, attracting investment and increasing exports.

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