Livestock Sector Can Boost Economy By N33trn

The Minister of Livestock Development, Idi Maiha, has said that if well unbundled and harnessed, the livestock sector can boost the economy by N33 trillion.

Maiha said this at Tuesday’s inaugural meeting with the House of Representatives Committee on Livestock Development in Abuja.

He said that once unbundled, the sector has the potential to attract a lot of capital into the country, adding that Nigerian businessmen have already indicated interest in ranching and dairy farming.

The minister urged state governments to create dedicated Ministries of Livestock to create a more seamless relationship with the federal government.

“We are taking stock of those state governments with an external ministry for livestock and fisheries. State governments that have not created it should give it effect and have a standing Ministry for Livestock so there would be a seamless relationship between the Federal Ministry of Livestock Development and the State Ministries of Livestock, as the case may be.

“This sector is worth about 33 trillion naira once unbundled. Once unbundled, we have a tremendous opportunity to attract capital into the country and have many ranchers. We have many requests from Nigerian businesspersons who want to participate in ranching and dairy activities.

“So it is a question of settling down and unbundling this Ministry, giving it to into the formal sector so that it can be derisked and people will know that beyond what everybody has been saying before the creation of this Ministry, today there is a strong political support from the office of the President and then this Committee,” Maiha.

The Committee’s Chairman, Hon. Wale Raji (APC, Lagos), said the transformation of the country’s livestock sector would create many opportunities for job creation and contribute to its economic growth and development.

He said the committee understood the urgency of the sector’s needs and promised to partner with the ministry to ensure its speedy implementation. He warned that the panel would maintain its oversight function.

“The only regret is that the creation of the ministry is coming this late. However, our consolation is that it is better late than never. In addition, with your wealth of experience as a technocrat and practising farmer, we do not doubt that we have a round peg in a round hole.