President Bola Tinubu has said Nigeria is targeting more than doubling the livestock sector's estimated $32 billion annual contribution to the economy, as part of a plan to turn the country into a leading hub for livestock production and processing in Africa.
Tinubu made the statement on Monday in Abuja while declaring open the ninth edition of a national event focused on the livestock industry, according to Punch.
The president's remarks point to a government push to expand output and investment in cattle, poultry and other livestock-related activities, though he did not, according to the available reports, give a specific timeline for reaching the new target.
Punch reported the same development in a separate follow-up article, describing the plan as part of efforts to position Nigeria as a top destination for livestock production and processing on the continent.
Details on how the government intends to achieve the target, including funding sources, policy reforms or specific sub-sectors to be prioritised, were not fully outlined in the reports reviewed.
Why It Matters
Nigeria's livestock sector, which spans cattle rearing, poultry, dairy and related processing activities, has long been identified by successive administrations as an underexploited area of the economy. Persistent farmer-herder conflicts, poor grazing infrastructure and limited processing capacity have constrained growth in the sector for years.
A doubling of the sector's contribution, if achieved, would mark a significant shift for an economy that has been working to diversify away from oil revenue. However, the reports available do not specify the exact current breakdown of the $32 billion figure across livestock sub-sectors, nor the methodology used to arrive at the doubling target.
Further details on the government's implementation plan are expected to emerge as the event in Abuja continues.
