The World Bank has disclosed plans to invest $200 million to revitalise Nigeria’s livestock sub-sector.
World Bank’s FADAMA Team Leader, Dr. Adetunji Oredipe, who made this known on Wednesday, expressed that the intervention fund was meant to enhance the productivity of the sector as well as address issues of access to markets.
“Productivity depends on a number of factors as it concerns the feeds which are very critical; the major problem of livestock production in the country is the dearth of high-quality animal feeds, as the feeds determine what you get from your livestock,” he said.
He informed that the organisation was in league with the team of the Federal Government to prepare the intervention policy, as well as the modalities for executing the project.
Oredipe noted that the bank was also studying critical health issues of the livestock industry and had approved $25 million to revamp the animal health sector.
“The initial $25 million has been approved by the bank, and the project will take off as soon as the Federal Government sorts out the issue with the National Assembly,’’ he said.
The FADAMA team leader added that the World Bank’s focus on the livestock sub-sector was based on the request of President Muhammadu Buhari’s administration.
Oredipe said the livestock sub-sector accounted for a substantial part of Nigeria’s Gross Domestic Product (GDP), adding that it provides income, employment, food, farm energy, manure, fuel, and transport.