News in brief:
– The Bank of Agriculture and the Federal Ministry of Livestock Development have partnered to boost funding, credit access, and innovation in Nigeria’s livestock sector.
– Their plan prioritises empowering youth and women, tackling infrastructure gaps, and unlocking the sector’s economic potential with a ₦100 billion support fund.
In a renewed push to revitalise Nigeria’s livestock industry, Ayo Sotinrin, Managing Director of the Bank of Agriculture (BoA), met with the Honourable Minister of Livestock Development, Idi Mukhtar Maiha, and top ministry officials to align on key priorities for the sector.
In a LinkedIn post, Sotinrin described the meeting as a step towards building ‘stronger, more resilient agricultural systems’ and unlocking credit access for livestock farmers, herders, and agripreneurs nationwide.
The discussion centred on increasing agricultural funding for the livestock subsector, which has long been overlooked despite its vast economic potential. Both parties acknowledged the sector’s structural gaps—outdated infrastructure, limited automation, and poor traceability—but focused on practical solutions, including feedlot estates, chip-based animal tracking to curb theft, and improved breeding technologies.
Of particular note is a plan to empower women and youth. According to Sotinrin, the proposed initiative would engage 1,000 young people in each state and provide dairy cows to women farmers to boost productivity and inclusion at the grassroots level.
The meeting comes as the Federal Government intensifies efforts to expand the livestock sector’s value from $32 billion to $74 billion by 2035. Minister Maiha has labelled livestock development ‘the alternative to crude oil,’ stressing its role in job creation, food security, and economic growth.
The collaboration aligns with ongoing reforms at BoA, which include governance restructuring, digital transformation, and efforts to improve loan access and recovery. Under Sotinrin’s leadership, the bank is working to become more efficient, transparent, and supportive of smallholder farmers.
With a ₦100 billion support fund recently approved for the livestock ministry and growing synergy between public institutions, experts say Nigeria’s livestock sector may finally be positioned to drive real economic transformation.
