The livestock programme being implemented in selected states across the country under the National Livestock Transformation Plan is to deliver an investment return of not less than N2tn to the Nigerian economy, the Federal Government has said.

It said about nine per cent of the Nigerian economy valued at approximately N2.9tn was made up of the livestock sector, adding that the NLTP had been planned to deliver adequate returns to investors.

A total of 119 ranches are to be created under the NLTP within a 10-year period beginning from 2019, while pilot ranches in grazing reserves are being developed in seven pilot states including Adamawa, Benue, Kaduna, Nasarawa, Plateau, Taraba and Zamfara.

Explaining the economic rationale for the NLTP in the programme’s strategy document obtained by our correspondent from the Federal Ministry of Agriculture and Rural Development in Abuja, the Federal Government said part of the strategy was to develop a blueprint for sustainable development of ranching in Nigeria.

On the projected impact of the NLTP on the country’s Gross Domestic Product growth, the government explained that livestock currently accounts for nine per cent of the size of agriculture in Nigeria’s economy or approximately N2.9tn in value.

Credit: Punch

Leave a Comment

Your email address will not be published.