The Federal Government has launched an ambitious National Livestock Growth Acceleration Strategy aimed at expanding Nigeria’s livestock industry from its current value of $32 billion to $74 billion by 2035.
The new plan, unveiled at the 2025 Agriculture Summit Africa (ASA) in Abuja, seeks to diversify the economy, strengthen food security, and reduce the country’s reliance on imported animal products.
Minister of Livestock Development, Idi Maiha, announced the initiative at the summit hosted by Sterling Bank under the theme “Survival of the Greenest: Reclaiming Africa’s Food Destiny.”
Maiha urged banks and financial institutions to create specialised livestock financing desks to increase funding for pastoralists, processors, and other value-chain players.
He noted that achieving the $74 billion target would create millions of jobs, boost rural economies, and position Nigeria as a continental leader in livestock production.
The Minister praised Sterling Bank for its role in agricultural financing and described the ASA platform as a major driver of continental agricultural policy and innovation.
Group Head of Agric and Solid Mineral Finance at Sterling Bank, Olushola Obikanye, said the summit symbolised “a journey of ideas, conviction, and hope,” calling for stronger partnerships, catalytic financing, and practical policy implementation to unlock Africa’s agricultural potential.
He said discussions at ASA 2025 showed that Africa’s food narrative “is being rewritten by courage, innovation, and people who refuse to accept limits.”
A major feature of this year’s event was the unveiling of a strategic on-lending partnership between the National Agricultural Development Fund (NADF) and Sterling Bank. Executive Secretary of NADF, Mohammed Ibrahim, said the collaboration would de-risk agricultural lending and attract more private capital into high-impact value chains.
“Our partnership with Sterling demonstrates how catalytic finance can turn agriculture from a high-risk venture into a bankable sector,” he said.
Also speaking, Yobe State Governor Mai Mala Buni—represented by the Permanent Secretary, Ministry of Agriculture and Natural Resources, Garba Usman—reaffirmed the state’s commitment to mechanised agriculture and rural empowerment. He urged stakeholders to promote technology and innovation as tools for transforming Africa’s food systems.
The summit featured panel discussions on agricultural policy reforms, innovative financing, green technology, climate adaptation, sustainability, and the inclusion of women and youth in Africa’s agricultural growth agenda.
Industry leaders, including Vice Chairman of Noor Takaful, Aminu Tukur; Chairman of the Bank of Agriculture, Mohammed Babangida; and Managing Director of Sunbeth Global Concepts, Olasunkanmi Owoyemi, delivered goodwill messages.
Participants also engaged in exhibitions and networking sessions aimed at expanding investment and strengthening agricultural value chains across the continent.