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Home Economy

FG Targets N33trn Boost In Livestock Sector, Secures $2bn Landmark Investment

Ifeanyi Uzoechiena by Ifeanyi Uzoechiena
February 10, 2025
in Economy, News
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BREAKING: Minister Of Livestock Development To Engage With Nigerians At Renewed Hope Virtual Conference
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The Federal Government has reaffirmed its commitment to revolutionising Nigeria’s livestock industry, positioning it as a cornerstone for economic growth and job creation.

At the Renewed Hope Global Virtual Town Hall Conference, the Minister of Livestock Development, Dr. Idi Mukhtar Maiha, highlighted the sector’s national significance, dispelling the misconception that livestock farming is limited to specific regions.

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He emphasized that President Bola Ahmed Tinubu’s decision to establish the Ministry of Livestock Development on July 9, 2024, was a strategic move to tackle long-standing industry challenges and unlock its full potential.

Dr. Maiha revealed that the livestock sector has already contributed N33 trillion to the economy, with ongoing reforms aimed at expanding grazing reserves, modernizing abattoirs, and driving greater private sector participation.

In a significant breakthrough, the minister announced a $2 billion investment deal secured by President Tinubu with Brazil’s Batista Brothers. The deal is designed to enhance livestock weight, boost animal feed production, and mitigate farmer-herder conflicts.

He further disclosed that foreign investors are showing increased interest, while several state governments are preparing to capitalize on emerging opportunities in the sector.

The high-impact session, hosted by Amb. Joseph Kolawole Adebola drew top government dignitaries, including Dr Mustapha Abdullahi, DG of the Energy Commission of Nigeria; Hon. Femi Odere, Special Adviser to the Senate President; Chief Babatunde Ogala (SAN), Senior Legal Counsel to the President; Dr. Isaac Adewole, former Minister of Health; and Dr Jumoke Oduwole, Minister of Trade and Investment.

An unexpected highlight of the event came when Dr Emeka Okengwu, a participant from Abuja, presented a compelling proposal on livestock development, earning him a personal invitation to meet the minister for further discussions.

The Renewed Hope Global Virtual Town Hall Conference continues to serve as a vital platform for direct engagement between policymakers and Nigerians at home and abroad, driving actionable solutions for national development.

Tags: Livestock

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