FG Targets $74bn Livestock Industry as New Growth Strategy Unveiled

Nigeria’s livestock sector is set for a major leap as the Federal Government launches the National Livestock Growth Acceleration Strategy, a roadmap designed to expand the industry’s value from $32 billion to an estimated $74 billion by 2035. The plan aims to energise the economy, reduce import dependence and strengthen food security by accelerating investment across the livestock value chain.

Source: guardian.ng

The Minister of Livestock Development, Idi Maiha, revealed the strategy at the 2025 Agriculture Summit Africa in Abuja, a gathering hosted by Sterling Bank under the theme “Survival of the Greenest: Reclaiming Africa’s Food Destiny.” Maiha urged financial institutions to create specialised livestock desks to widen access to credit for pastoralists and processors, noting that increased financing would unlock growth and create millions of rural jobs.

Maiha praised Sterling Bank for sustaining agricultural dialogue and championing innovative financing models, describing the summit as a platform shaping the continent’s food future. He said achieving the sector’s $74 billion target would position Nigeria as a dominant force in Africa’s livestock market while expanding export opportunities.

Sterling Bank’s Group Head of Agric and Solid Mineral Finance, Olushola Obikanye, told participants that Africa’s agricultural future rests on bold partnerships, catalytic funding and consistent policy execution. He said the voices at the summit reflected a continent determined to redefine its own destiny through innovation and resilience.

Yobe State Governor Mai Mala Buni, represented by Permanent Secretary Garba Usman, reaffirmed the state’s commitment to mechanised farming and rural empowerment, stressing that modern agriculture remains central to regional development.

Industry leaders, including the Vice Chairman of Noor Takaful, Aminu Tukur; the Chairman of the Bank of Agriculture, Mohammed Babangida; and the Managing Director of Sunbeth Global Concepts, Olasunkanmi Owoyemi, closed the summit with messages of support, reinforcing the shared belief that collaboration is key to transforming Africa’s food systems