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Livestock Production: Nigeria’s Viable Business Opportunity 

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The Nigerian population is up to 220,804,064 as of May 18, 2023.

Each home in Nigeria consumes meat of all kinds, such as chicken, beef, pork, etc.

However, according to a recent interview that Nairametrics had with Prof. Eustace Iyayi, the animal production sector is still insufficient to cater to the population, although it is worth N30 trillion.

Also, Nigeria primarily depends on imported dairy products because its domestic sector is undeveloped & its livestock don’t produce much milk.

Livestock Production in Nigeria is not enough, Prof Iyayi.

The Nigerian Institute of Animal Science’s Registrar/Chief Executive Officer, Professor Eustace Iyayi, clarifies the problems and suggests alternative remedies to boost industry productivity.

Here are the questions thrown and answered by Prof. Eustace Iyayi:

·       Are you still optimistic about Nigeria’s livestock?

During the interview, Nairametric asked Prof Iyayi if he’s still upbeat about the possible growth of livestock production in Nigeria like he was a few years back.

Prof. Eustace Iyayi replies that he’s still optimistic about Nigeria’s prospects for growth in the animal agricultural sector.

He believes the subsector can energize and propel the Nigerian economy through employment generation, foreign exchange earnings, and expansion of the local processing subsector.

He says, if people consider the number of activities in the animal agriculture value chain, they will agree with him.

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Without a doubt, the operations of the bandits and the conflicts have hindered the sector’s expansion.

But there has been some improvement in the security situation due to the coordinated efforts of the various governments to confront the threat.

·       What’s making Diary products very expensive?

Prof Eustace states that there are two key factors responsible for the very expensive dairy product in Nigeria.

The factors are a lack of local dairy company development and dependence on dairy products.

Every year, the country imports and consumes milk worth 1.5 billion dollars.

Even though Nigeria has the 3rd largest herd in Africa, it has a 1 million tonnes milk shortage.

Nigeria produces 560,000 tonnes of milk, which is not even up to the needed rate.

Iyayi also said that the country’s animals are low milk producers.

But lately the Commercial Dairy Ranchers Association of Nigeria (CODARAN), in coordination with pertinent parties.

The parties include the Federal Ministry of Agriculture and Rural Development (FMARD) and the Nigerian Institute of Animal Science.

Also, the pertinent parties have made enormous strides toward enhancing milk production in the nation.

The National Dairy Policy’s recent ratification by the Federal Executive Council (FEC) will significantly enhance the dairy industry.

·       What is the current market worth of the complete livestock business value chain?

Eustace Iyayi answers that the livestock sector in Nigeria is an N30 trillion national asset.

What’s the Way Forward For Nigeria Livestock Needs

Nigeria is anticipated to produce 30.2 million heads of cattle by 2026, a 1.2% annual rise.

Nigeria’s supply has increased annually by 1.7% since 1966.

In contrast, the country’s imports of cattle fell significantly in 2021.

To overcome the obstacle, seize the chances that the difficulties have presented.

Additionally, the nation’s animal agricultural industry needs a clear road map.

It is now necessary for the nation to use research and innovation tools to expand trade along all of our animal agriculture’s value chains.

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A country cannot advance if its research cannot be commercialized.

Professor Eustace Iyayi advises farmers, middlemen, and industry authorities, to be coordinated and effective.

He supports implementing the triple helix approach involving industry, policymakers, and research and innovation.

 

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