The Federal Government has announced an ambitious plan to radically transform Nigeria's livestock industry, setting a target to increase its value from the current $32 billion to a staggering $74 billion by the year 2035.
A Bold Vision for Economic Diversification
This new initiative, known as the National Livestock Growth Acceleration Strategy, was officially unveiled by the Minister of Livestock Development, Idi Maiha. The announcement took place at the 2025 Agriculture Summit Africa (ASA) held in Abuja. The summit, hosted by Sterling Bank, carried the theme “Survival of the Greenest: Reclaiming Africa’s Food Destiny.”
Minister Maiha outlined the core objectives of the strategy, emphasizing its role in diversifying the national economy and strengthening Nigeria's food security. He made a direct appeal to financial institutions, urging them to create dedicated livestock desks. This move is designed to increase the flow of funds to pastoralists and processors, which is seen as crucial for unlocking the sector's vast potential.
Unlocking Potential Through Finance and Partnership
Maiha painted a vivid picture of the strategy's potential impact. “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 stated. The Minister specifically commended Sterling Bank for its pioneering role in agricultural finance and for providing a vital platform for dialogue.
Echoing this sentiment, Olushola Obikanye, the Group Head of Agric and Solid Mineral Finance at Sterling Bank, described the summit as a journey of conviction and hope. He called on African nations to build stronger partnerships and deploy catalytic financing to accelerate agricultural transformation across the continent.
In a significant demonstration of commitment, the Executive Secretary of the National Agricultural Development Fund (NADF), Mohammed Ibrahim, announced a strategic on-lending partnership with Sterling Bank. “Our partnership with Sterling demonstrates how catalytic finance can transform agriculture from a high-risk venture into a bankable, investor-friendly sector,” Ibrahim noted. This collaboration aims to de-risk agricultural lending, attract private investment, and direct capital to high-impact areas.
State-Level Commitment and Technological Focus
Support for agricultural development was also reinforced at the state level. The Governor of Yobe State, Mai Mala Buni, represented by the Permanent Secretary of the Ministry of Agriculture, Garba Usman, reaffirmed the state's dedication to mechanized farming and rural empowerment. The Governor stressed the indispensable role of technology and innovation in unlocking Africa's agricultural potential, urging stakeholders to collaborate on technology-driven initiatives.
The 2025 Agriculture Summit Africa featured extensive panel discussions on critical themes for transforming Africa's food systems. Key topics included:
- Enabling policies for a thriving agricultural future.
- Unlocking innovative financing models.
- The role of technology and green innovation in boosting productivity.
- The importance of including women and youth.
- Climate adaptation and building resilient food systems.
The event concluded with a strong sense of optimism, reinforced by goodwill messages from industry leaders and networking sessions focused on driving sustainable growth across the entire agricultural value chain.
