Federal Government Eyes N2 Trillion From Livestock

By January 18, 2019 Investment News

The Federal Government yesterday said its National Livestock Transformation Plan (NLTP) is eyeing N2 trillion into the livestock sector.

It also said the plan will check the clashes between farmers and herders in the country.

It took the decision following the consideration and approval of a memo presented by the Minister of Agriculture, Audu Ogbeh to NEC.

The National Economic Council (NEC) meeting chaired by Vice President, Yemi Osinbajo, approved the NLTP.

Kebbi State Governor, Atiku Bagudu, while briefing State House correspondents at the end of the meeting, said the livestock development plan would attracts N2 trillion into the livestock sector.

According to him, the Council approved the plan because of the importance of livestock as an economic activity.

He said: “NLTP has been backed up with the ECOWAS (Economic Community of West African States) Heads of state and government approval since 2005, because whatever we are doing in the livestock sector must incorporate the ECOWAS protocol, otherwise whatever success that is recorded in Nigeria can be complicated by the ECOWAS arrangement that we are part of.

“NLTP, is about creating condition to launch the peaceful transformation of the Nigerian livestock ecosystem to add atleast N2 trillion to the economy.”

He said current policies and strategic intention at both national and state levels are to improve livestock production, which have been hampered by many obstacles.

The obstacles, he said, included limited knowledge of Nigerian livestock asset by size, locations, water and insecurity.

He said: “The approach is to invest in the livestock sector to provide ranches, mitigating the escalating crisis between pastoralists and farmers.

“The strategy would be supported by the development of an implementation plan which Mr. President had already approved, that provides a guiding framework to states for implementing NLTP which will be implemented in phases.“

The governor also gave the balance in the federation accounts as at December 31, 2018 to include the Excess Crude stands at $497,864,626.08, Stabilisation Account stands at N29,672,829,101.47, and Natural Resources Development Fund stands at N135,476,046,912.57.

Source: The Nation