FG, private sector align on $50bn livestock investment to drive $74bn growth target

The Federal Government has proposed a $50 billion investment initiative in the livestock sector as part of its efforts to transform Nigeria’s livestock into a $74 billion industry.

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The development was disclosed at the National Stakeholders Roundtable on Transforming the Livestock Sector held in Abuja on Tuesday, March 31 2026, as shared on the official page of the Federal Ministry of Livestock Development.

Speaking at the event, the Minister of Livestock Development, Idi Mukhtar Maiha, described the initiative by the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture NACCIMA, as a strategic step toward accelerating growth in the sector.

He noted that government alone cannot drive the transformation and that the future of Nigeria’s livestock sector depends on bold, private sector-led investment across the value chain.

According to the statement, he noted that the livestock sector currently contributes about $32 billion to the nation’s economy and supports millions of livelihoods, but still holds significant untapped potential.

According to him, the government is focusing on key areas such as feed development, pasture expansion, animal health systems, and genetic improvement to boost productivity.

Maiha also identified red meat, dairy, and leather as priority value chains capable of driving job creation, reducing imports, and expanding exports.

“We see the private sector not just as participants, but as the primary drivers of this economic transformation,” he added.

The minister further assured investors of the government’s commitment to creating an enabling environment through improved regulations, harmonised data systems, and policies aimed at attracting sustainable investments.

“Earlier, the President of NACCIMA, Jani Ibrahim, said the $50 billion investment plan is a 10year strategy focused on modern ranching, infrastructure development, and digital innovation,” the statement read.

He stressed that while government plays a supportive role, the private sector remains central to achieving long-term economic growth.

Also speaking, the President of the Abuja Chamber of Commerce and Industry, Emeka Obegolu, described the roundtable as a major step in driving private sector participation in livestock development.