Livestock sector can drive Nigeria's economy

It is projected that Nigeria’s livestock sector has a huge potential and holds a projected contribution up to US$32 billion to the country’s Gross Domestic Product, GDP, within the next 10 years if the private sector is properly positioned to drive the sector with the enabling environment provided.

Speaking with Vanguard Agrobiz, the Chief Executive Officer, Centre for the Promotion of Private Enterprises, CPPE, Dr Muda Yusuf, said the private sector is the catalyst to unlock the potential of Nigeria’s livestock industry.

Yusuf highlighted salient areas the government needs to work on to make the sector attractive to investors.

He said: “Attracting substantial private capital into livestock production will require deliberate government action to address the sector’s structural constraints. Across the world, agriculture—including livestock—is supported through infrastructure, research, finance, risk mitigation and other public-sector enablers. Nigeria cannot expect livestock investors to operate competitively without a similar institutional framework.