‘How livestock industry can hit N50 trillion in 10 years’

The Nigeria Institute of Animal Science has said the country’s livestock industry value could rise to at least N50 trillion over the next decade, if it maintains its current 12.7 per cent annual growth rate.

Its Director-General Prof Eustace Iyayi said for this to happen, the right structures must be put in place.

These include: proper infrastructure for value chain development, expansion and sustenance, financing, research and development for new breeds, and capacity development of operators.

According to a statement, the Don said the country’s livestock industry is currently valued at N30 trillion, which is approximately 20 percent of Nigeria’s Gross Domestic Product (GDP).

This, he estimated, will rise to more than 30 percent at the rate of the 10-year projected figure against today’s GDP.

Iyayi lamented that despite the industry’s large size, it is still grossly under-producing

“We are grossly under producing because we still import 70 percent of our beef and 25 percent of poultry. We consume about 1.3 million metric tons of milk annually and 60 percent of it is imported,” he said.

He explained that the feeds industry alone is a multi-billion naira one, with the poultry subsector worth N1.6 trillion.

“We see the industry growing to a net worth of about N50 trillion in the next decade if all the right structures are put in place,” Iyayi stressed.

As to how this can be realised, Iyayi advocated for improved Nigerian animal breeds “so as to maximize their genetic potential.

“Second, is to adopt ranching for our beef and dairy cows. Rearing them in confinement will lead to their improved productivity.

“Third is for livestock producers to also be incentivised in terms of input subsidy. Fourth is to develop the value chains for the poultry and livestock species. This way people will see livestock production as agribusiness, leading to expansion of markets and business opportunities in the subsector.”

He noted that there were already thriving markets for some Nigerian livestock exports.

Iyayi said: “For some of the products, we are already exporting. Our eggs are exported to several sub-regional countries, especially up north.

“With the efforts of the institute and other relevant stakeholders our feed producers now have a registered association known as the Feed Industry Practitioners Association of Nigeria (FIPAN). FIPAN is registered with the International Feed Industry Foundation (IFIF) of the FAO.

“Coupled with our regulatory activities, our goal is to have a formidable feed sub-sector that can export feed to the global market very soon. For other commodities such as poultry meat, beef, milk, hides, and skin much work needs to be done first to satisfy the internal market before export.

“Our institute is already facilitating this by using a regulatory model that is helping to upscale businesses in the feed, hatchery and poultry sub-sectors through maintaining international best practices. This is being expanded to other sectors of the livestock industry as well. We also engage the relevant stakeholders to know their challenges and how best to help overcome such.”

The Don, however, admitted that the institute faces some problems in driving the optimal growth of Nigeria’s livestock industry.

He said: “We face the limitation of funding. The federal government is trying her best, but needed and relevant activities always run ahead of funds. To support government efforts we collaborate with sister agencies and development partners in order to reduce cost of operation.

“We also have the limitation of a non-existent breeding policy for our poultry and livestock. Without improved breed there is nothing much that can be achieved. Currently a policy has been developed. It is in the process of being presented to the Honourable Minister of Agriculture and Rural Development for possible approval by the Federal Executive Council.”