NEC Approves $90 Billion Agribusiness and Livestock Development Plan, Sets 2035 Target

 NEC Approves $90 Billion Agribusiness and Livestock Development Plan, Sets 2035 Target

The National Economic Council (NEC) has approved a sweeping $90 billion Agribusiness and Livestock Development Plan for Nigeria, aiming to unlock transformative economic value and position the country as a global player in agricultural exports by 2035.

*Key Highlights of the Plan*

*Economic Ambition*

The strategy is projected to generate between $74 billion and $90 billion in economic value by 2035, with a strong focus on modernizing Nigeria’s livestock sector and agribusiness value chains.

Global Export Drive: One of the plan’s central goals is to transform Nigeria into a major exporter of red meat, targeting lucrative markets in the Middle East and Asia.

*Job Creation and Security*

The initiative is designed to create jobs, boost internally generated revenue, and address the root causes of insecurity, particularly those linked to the current system of animal husbandry.

Strategic Pillars (2025–2026)

The plan prioritizes five critical pillars for immediate investment and reform:

Animal Health and Zoonoses Control

Feed and Fodder Development

Water Resources Management

Statistics and Information Systems

These pillars are intended to drive sustainable growth, enhance productivity, and ensure the sector’s resilience against disease and climate-related shocks.

*Institutional Reforms and Investments*

 NEC endorsed the formal transfer of N100 billion in previously approved funds to the newly established Federal Ministry of Livestock Development, empowering it to spearhead sector modernization.

 The plan calls for the creation of counterpart livestock ministries at the state level and full sub-national and private sector participation, ensuring a coordinated national approach.

Cotton, Textile, and Garment Development Board: In tandem, NEC approved the establishment of a regulatory board to revive the cotton, textile, and garment industry, which once powered Nigeria’s economy. This board will include representatives from all six geopolitical zones and relevant ministries, be domiciled in the Presidency, and funded through the Textile Import Levy.

Green Imperative Project (GIP): NEC approved the creation of a national GIP office in Abuja and regional offices across the six geopolitical zones to support agricultural mechanization and food production.

National Agribusiness Policy Mechanism: The Council formalized support for this mechanism to drive policy coherence and attract investment.

Vice President Kashim Shettima, who chaired the NEC meeting, emphasized that these measures are part of President Bola Tinubu’s economic revival agenda. He described the Council as “architects of a sustainable future,” urging a focus on tangible results rather than rhetoric.

“Our people do not evaluate us by the elegance of our policies, but by the evidence of their impact. Let us rise above partisan interests and regional divisions and focus on what truly matters—building a nation that delivers for all.” — Vice President Kashim Shettima

NEC called for robust monitoring of implementation, including field visits by the NEC Implementation Monitoring Committee, to ensure that policy translates into measurable impact for Nigerians.

*Summary Table: Main Features of the $90 Billion Plan*

Target Economic Value $74–$90 billion by 2035

Main Goal Transform Nigeria into a global red meat exporter

Priority Pillars (2025–2026) Animal health, feed/fodder, water, data, breed improvement.

*Key Institutional Reforms*

New Federal Ministry, state-level ministries, regulatory board

Supporting Projects Green Imperative Project, National Agribusiness Policy Mechanism

Funding Mechanisms N100bn transfer, Textile Import Levy

Stakeholder Involvement Federal, state, private sector, and foreign investors

This ambitious plan marks a significant step toward reviving Nigeria’s agricultural and livestock sectors, with the potential to drive economic growth, job creation, and national security over the next decade.