Maiha Seeks Cheaper, Longer-Term Loans for Livestock Investments

The Minister of Livestock Development, Idi Mukhtar Maiha, says the ministry will work with the Federal Ministry of Finance and the Central Bank of Nigeria to improve access to cheaper and longer-term loans for businesses in the livestock sector.

Maiha spoke during a visit to the ABIS Ultra Modern Livestock Processing Factory in Lekki, Lagos. He said the government is seeking single-digit interest rates, loan moratoriums and repayment periods of at least 10 years to support investments in ranching, feedlots and abattoirs.

The minister also called for more certified abattoirs and processing facilities across the country, saying modern facilities can improve hygiene, create jobs and provide raw materials for other industries.

The founder of ABIS Group, Ambassador Emmanuel Usman Nelson, welcomed the proposed financing support. He also called for better roads and access to land to help livestock businesses expand.

He urged livestock farmers to adopt modern production methods instead of allowing animals to roam freely, while noting that the ABIS hub has created jobs for young people and women over the past five years.