Food Security: FG Seeks to Expand Livestock Industry to $74 Billion by 2035

Sterling Bank rallies Africa for green, sustainable solutions for agriculture

James Emejo in Abuja 

Minister of Livestock Development, Idi Mukhtar Maiha, has said the federal government remained committed to expanding the countrys livestock industry to $74 billion by 2035 from its current value of $32 billion, under the National Livestock Growth Acceleration Strategy.

He said the initiative is aimed at diversifying the economy and strengthening national food security.

The commitments were reaffirmed at the recent 2025 Agriculture Summit Africa (ASA) with the theme, Survival of the Greenest: Reclaiming Africas Food Destiny which was hosted by Sterling Bank in Abuja.

Maiha urged financial institutions to establish dedicated livestock desks to increase funding for pastoralists and processors, thereby unlocking the sectors full potential.

He said, If achieved, this target could significantly reduce Nigerias dependence on imported animal products, create millions of rural jobs, and position the country as a major player in Africas livestock market.

The minister commended the bank for its leadership in agricultural finance and for providing a platform for critical dialogue, describing ASA as a vital convening for shaping the continents agricultural destiny.

However, Sterling Bank, which remained a leading advocate for agricultural finance, urged African nations to forge stronger partnerships, deploy catalytic financing, and ensure practical policy implementation to accelerate agricultural transformation and food security in the continent.

Group Head of Agric and Solid Mineral Finance at Sterling Bank, Olushola Obikanye, described the summit as a journey of ideas, conviction, and hope for Africas agricultural future.

He underscored the transformative power of collaboration highlighted by the discussions at the summit.

He said, The voices from across the continent have affirmed one truth: Africas narrative is being rewritten, not by chance, but by the courage, innovation, and resolve of people who refuse to accept limits.

Further demonstrating a commitment to agricultural development, the Executive Secretary, National Agricultural Development Fund (NADF), Mr. Mohammed Ibrahim, unveiled a strategic on-lending partnership with Sterling Bank.

According to him, the collaboration is designed to de-risk agricultural lending, attract private capital, and channel funds into high-impact segments of the sector.

He said, Our partnership with Sterling demonstrates how catalytic finance can transform agriculture from a high-risk venture into a bankable, investor-friendly sector.

Similarly, Governor of Yobe State, Mai Mala Buni, reaffirmed the states commitment to mechanised farming and rural empowerment.

Represented by the Permanent Secretary, Ministry of Agriculture and Natural Resources, Garba Tahir Usman, the governor emphasised the critical role of technology and innovation in unlocking Africas agricultural potential, urging stakeholders to work together to advance technology-driven initiatives that will safeguard agricultural progress.