FG Targets $74bn Livestock Economy by 2035, Unveils Plan to Drive Investment and Jobs

Nigeria’s Federal Government targets a $74 billion livestock economy by 2035, with plans to expand investment, processing, jobs, dairy production and food security.

By GLEBM News Desk

The Federal Government has set an ambitious target to increase the value of Nigeria’s livestock sector from about $32 billion to $74 billion by 2035, as it moves to transform the industry into a major driver of investment, employment, food security and industrial development.

President Bola Ahmed Tinubu said the livestock industry represents one of Nigeria’s significant untapped economic assets, with the sector’s large animal population providing a foundation for expanding domestic production and developing new value chains.

According to the President, Nigeria’s livestock population exceeds 910 million animals, highlighting the scale of an industry that could generate substantially greater economic returns if supported by modern production systems, investment and stronger value-chain infrastructure.

The government’s strategy is aimed at moving the sector beyond traditional production models by encouraging greater investment in animal husbandry, dairy production, meat processing, animal health, feed production and other related businesses.

The Federal Ministry of Livestock Development has identified the $74 billion target by 2035 as part of its broader strategy for accelerating growth in the sector.

From livestock production to industrial value chains

A major focus of the government’s approach is to develop stronger commercial value chains around livestock.

Rather than concentrating primarily on the production of live animals, policymakers are seeking greater investment in processing and manufacturing activities that can create additional economic value from meat, milk, hides, leather and other animal products.

The approach is expected to create opportunities for private investors in dairy processing, meat production, animal-feed manufacturing, veterinary services, cold-chain logistics and leather processing.

Government has also identified improved animal genetics, disease control, veterinary infrastructure and modern production techniques as important components of the sector’s transformation.

The Federal Ministry of Livestock Development was established in 2024 as part of the administration’s effort to give the industry dedicated policy attention and develop it as a major component of Nigeria’s economic diversification strategy.

Financing remains critical

Access to affordable finance is expected to be a major determinant of whether the government’s livestock ambitions can be achieved.

The ministry has previously called for stronger private-sector participation and greater financial-sector support for livestock producers, processors and other businesses operating along the value chain.

In March 2026, the ministry said it was working with the private sector around a proposed $50 billion investment initiative aimed at supporting the transformation of the sector and advancing the $74 billion growth target.

For smallholder farmers and pastoralists, access to finance, veterinary services, improved breeds and reliable markets could be critical to increasing productivity and household incomes.

Jobs and food security

The government also sees livestock development as an opportunity to create jobs, particularly in rural communities and among young Nigerians.

Expanding domestic production of meat and dairy products could also reduce Nigeria’s dependence on imported animal products while strengthening food supply chains.

The administration’s broader objective is to build a livestock economy capable of serving Nigeria’s growing domestic market while eventually competing in regional and international markets.

However, achieving the $74 billion target will require sustained investment in infrastructure, access to finance, animal health, land management, technology and market systems.

Industry stakeholders have also highlighted the need for peaceful and productive relations between farming and pastoral communities, as conflicts and insecurity have historically disrupted livestock production and agricultural activity.

With the government targeting $74 billion by 2035, the challenge now is translating the policy ambition into measurable increases in productivity, investment, processing capacity and incomes across Nigeria’s livestock value chain.