The Minister of Livestock Development, Idi Mukhtar Maiha, has called for stronger collaboration among stakeholders to boost access to finance for youth and women engaged in livestock agribusiness across Nigeria. He made the appeal on Monday, 4 August 2025, during a high-level policy dialogue organised by the African Development Bank (AfDB) in Abuja.
The event, themed “Access to Finance and Empowering Youth and Women for Agribusiness Success,” brought together policymakers, development partners, financiers, and agripreneurs.
Maiha stressed the importance of financial inclusion, asset support, and market linkage for rural livestock farmers. Citing data from the Enhancing Financial Inclusion and Access (EFInA) Access to Finance Survey, he noted that formal financial inclusion in Nigeria rose from 56 percent in 2020 to 64 percent in 2023. “However, 26 percent of Nigerians are still financially excluded, which means 28.8 million adults are not part of the financial system. Financial exclusion is pervasive in rural areas due to illiteracy, low penetration by banks and fintech, sociocultural attitudes, and poor infrastructure,” he explained.
He revealed that the Ministry of Livestock Development is intensifying efforts to empower 37,000 young men and women through practical training, provision of starter assets, and sustainable access to markets. According to him, the Nigeria Livestock Growth Acceleration Strategy (NL-GAS) aims to transform the livestock sector from a $33 billion to a $74 billion industry within five years.
“The ten-pillar NL-GAS has two pillars that are the main areas of discussion here today. These are Finance and Insurance and the Women and Youth Initiative. We are collaborating with different actors to ensure that our farmers and other stakeholders are financially included in all sectors such as dairy, small ruminant, poultry, and rural trade,” Maiha said.
He urged the AfDB and other partners to design financing options that align with the realities of the livestock industry. He also pointed to the importance of targeted policy reforms, including strengthened credit guarantees and cooperative-based lending, to unlock opportunities for informal livestock players.
Other goodwill messages came from the Special Adviser to the President on Livestock Development, Professor Attahiru Jega; Chairperson of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa; Minister of Youth Development, Senator Atiku Abubakar Bagudu; Minister of Budget and Economic Planning; and Minister of Agriculture and Food Security, Senator Abubakar Kyari.
In his welcome address, Dr. Abdul Kamara, AfDB Country Director for Nigeria, outlined the Bank’s strategy for transforming agribusiness while ensuring that financing reaches vulnerable groups. “Our objective is not just about giving out loans; it is about designing inclusive, adaptive financing mechanisms that empower women and youth where they are and with what they have,” Kamara stated.
He observed that only 11.4 percent of Nigerian businesses access credit through banks, with most relying on informal lending, if at all.
This, he said, limits economic growth. Highlighting the Investment in Digital and Creative Enterprises (I-DICE) programme and other value chain-focused initiatives, Kamara emphasised the AfDB’s commitment to driving smart agribusiness investments that promote employment and strengthen local food systems.
Delivering his keynote address, Senator Abubakar Kyari called for faster adoption of innovation and retention of value within local economies through public-private partnerships.
“We cannot continue exporting raw produce while importing finished products. If we want true empowerment, we must fix the value chains, especially financing, processing, and certification,” he said.
