The Minister of Livestock Development, Idi Maiha, has stated that the livestock sector, if properly developed, has the potential to contribute ₦33 trillion to Nigeria’s economy.
Maiha made this assertion during his inaugural meeting with the House of Representatives Committee on Livestock Development on Tuesday in Abuja.
He emphasized the sector’s investment potential, noting that Nigerian entrepreneurs have already shown interest in ranching and dairy farming nationwide.
“At the moment, we are taking stock of those state governments that have external ministries of livestock and fisheries. For state governments that have not created [such ministries], they should give it effect and establish a standing Ministry for Livestock. This will ensure a seamless relationship between the Federal Ministry of Livestock Development and the State Ministries of Livestock, as the case may be,” the minister explained.
He further highlighted the economic potential of the sector: “This sector is worth about ₦33 trillion once unbundled. Once unbundled, we have a huge opportunity to attract capital into the country as well as support many ranchers.
“At the moment, we have numerous requests from Nigerian businessmen who want to engage in ranching and dairy activities.
“So, it is a matter of settling down and unbundling this Ministry, integrating it into the formal sector so that it can be de-risked. People need to recognize that, beyond the discussions prior to the Ministry’s creation, there is now strong political backing from the office of the President and support from this committee,” he added.
The Chairman of the Committee, Wale Raji, stressed the importance of transforming the livestock sector to drive meaningful economic growth. He assured legislative collaboration for the sector’s development.
“The only regret is that the creation of the ministry is coming this late. But our consolation is that it is better late than never. And with your wealth of experience as a technocrat and also a practicing farmer, we have no doubt that we have a round peg in a round hole. The entire focus will be on the development and progress of the country,” Raji said.
