Nigeria’s Livestock industry has the potential to raise billions of dollars for the country, if properly regulated with the right laws and given the right structures and infrastructure to thrive. That is according to Tilewa Adebajo a renowned Economist and the CEO of CFG Advisory during an exclusive interview on the morning show on Arise news.
Adebajo said Nigeria’s biggest city Lagos slaughters over 10,000 cattle a day which is worth about 2 billion Naira daily with an average cost of 200,000 Naira for cattle. He commended Lagos for having has some sort of regulation and proper slaughter houses and beef vans that take some beef from Abattoir to slaughter houses. “There is also a bit of regulation from the end of the value chain but we need to look at an integrated value chain which currently is very fragmented,” according to the chief economist.
Speaking to open grazing the CEO of CFG Advisory went back in time and reminded Nigerians when there were laws put in place that stopped a cattle rarer from trespassing on lands and destroying cash crops.
In order to use Utilise the cattle value chain the Chief Economist urged for more ranching with modernised Beef Processing Zones that could attract potential investors, bring in billions of dollars and employ lots of people. Nigeria could be inspired by Brazil which exports close to 8 billion dollars’ worth of beef annually which is about a quarter of our foreign reserves of about 35 billion dollars.
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