FG Unveils Strategy to Grow Livestock Sector by 130% in 10 Years

News in Brief:

-The Federal Government has launched the National Livestock Growth Acceleration Strategy, a 10-year plan to expand the sector’s value from $32bn to $74bn by 2035.

-The initiative seeks to reduce imports, boost rural jobs, unlock financing, and strengthen Nigeria’s food security.

The Federal Government of Nigeria launched the National Livestock Growth Acceleration Strategy, an ambitious blueprint aimed at expanding Nigeria’s livestock sector from its current value of $32 billion to $74 billion by 2035. Officials say the initiative is central to the country’s broader goal of diversifying the economy, improving food security, and positioning Nigeria as a competitive player in Africa’s livestock market.

FG Sets Ambitious Growth Target

Minister of Livestock Development, Idi Maiha, announced the strategy at the 2025 Agriculture Summit Africa (ASA) in Abuja, hosted by Sterling Bank under the theme Survival of the Greenest: Reclaiming Africa’s Food Destiny.

Maiha urged financial institutions to create dedicated livestock desks and expand credit access for pastoralists, commercial producers, and processors. Improved financing, he said, is essential to unlocking growth, strengthening value chains, and reducing Nigeria’s dependence on imported meat, dairy, and other animal products.

“If achieved, this target could significantly reduce Nigeria’s dependence on imported animal products, create millions of rural jobs, and position the country as a major player in Africa’s livestock market,” he said.

The Minister also commended Sterling Bank for its long-term role in agricultural financing and for providing a platform that continues to influence policy direction across the continent.

Financing and Policy Partnerships Take Centre Stage

Olushola Obikanye, Group Head of Agric and Solid Mineral Finance at Sterling Bank, described the Summit as a platform for 'ideas, conviction, and hope for Africa’s agricultural future.' He called on African governments to strengthen partnerships, deploy catalytic financing, and prioritise implementation if the continent is to transform its food systems.

A major highlight of this year’s event was the unveiling of the livestock acceleration strategy, followed by the announcement of a strategic on-lending partnership between Sterling Bank and the National Agricultural Development Fund (NADF).

NADF Executive Secretary Mohammed Ibrahim stated that the collaboration will help de-risk agricultural lending and attract more private capital into high-impact segments of the sector.

“Our partnership with Sterling demonstrates how catalytic finance can transform agriculture from a high-risk venture into a bankable, investor-friendly sector,” Ibrahim said.

States, Industry Leaders Reinforce Commitment

Yobe State Governor, Mai Mala Buni, represented by Garba Usman, Permanent Secretary, Ministry of Agriculture and Natural Resources, reaffirmed the state’s commitment to mechanised farming, improved rural livelihoods, and expanded access to technology-driven solutions. He urged African stakeholders to champion innovation as a pathway to long-term agricultural resilience.

The Summit also featured extensive panel discussions focusing on food systems transformation, policy reforms, innovative financing models, green technology, climate adaptation, and the inclusion of women and young people in agriculture.

Senior industry leaders, including Noor Takaful Vice Chairman Aminu Tukur, Bank of Agriculture Chairman Mohammed Babangida, and Sunbeth Global Concepts Managing Director Olasunkanmi Owoyemi, delivered goodwill messages.

Attendees also participated in exhibitions and networking sessions showcasing solutions aimed at accelerating sustainable growth across Africa’s agricultural value chains.