FG Eyes N23 Trn From Feed, Fodder

The International Feed Industry Federation (IFIF) highlighted the global compound feed market exceeding 1.2 billion tonnes in 2023, with a turnover surpassing US $500 billion. In Nigeria, stakeholders met under the AU-IBAR initiative to enhance the country’s feed and fodder industry, valued at over N23 trillion. Emphasizing its potential to reduce conflicts, boost economic growth, and support food security, the initiative aims to structure and expand Nigeria’s feed sector, integrating expertise from academia, industry, and government for sustainable development. Source: Daily Trust

Our Review                                                                                                                                                                                                                                   The Nigerian government’s focus on developing a resilient feed and fodder industry aims to tap into a N23 trillion sector, crucial for food security and economic growth. With global demand for animal protein rising, particularly in meat, aquaculture, and dairy, structured feed systems are essential. The initiative also addresses challenges like herder-farmer conflicts and economic instability, aiming to transform Nigeria into an industrial hub within the agricultural sector. The Multi-Stakeholder Platform (MSP) launch underscores this commitment, bringing together academia, industry experts, farmers, and media to drive sectoral growth over the next 72 months.