THE African Development Bank Group (AfDB) has said that the Nigerian livestock sector employs around 30 per cent of the rural population but contributes less than 10 per cent of agricultural Gross Domestic Product (GDP).
The Bank said the demand for livestock products is expected to increase in the years ahead, as the sector has the greatest capacity to create a multiplier effect.
This was made known by the Director General of the Nigeria Country Office of AfDB, Mr Lamin Barrow at the 10th Annual Joint Meeting of the Animal Science Association of Nigeria and Nigerian Institute of Animal Science, held in Uyo, Akwa Ibom State.
Mr Barrow said the livestock sector offers unprecedented opportunities to Nigeria’s economic recovery efforts.
“At present, the livestock sector employs around 30 per cent of the rural population but contributes less than 10 percent of agricultural GDP. This could increase considerably if investments are made to raise productivity and foster value addition.
“The demand for livestock products is expected to surge in the years ahead. With a population that is set to double in size from more than 200 million today to nearly 400 million by 2050, coupled with rapid urbanization, poultry, beef and milk consumption are projected to increase by 253 per cent, 117 per cent, and 577 per cent respectively.
“In the production sectors, livestock has the greatest capacity to create a multiplier effect and it is estimated that every additional dollar spent will generate, at the household level in sub-Saharan Africa, $2.9 in primary livestock production and $5.4 in livestock product processing”, he said.
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