The Minister of Livestock Development, Idi Mukhtar Maiha, has called on the African Development Bank (AfDB) to collaborate with the Nigerian government in advancing inclusive financing initiatives aimed at empowering youth and women in the livestock sector.
The Minister made this call today in Abuja, during the High-Level Policy Dialogue on “Bridging the Gap: Access to Finance and Empowering Youth and Women for Agribusiness Success” organized by AfDB.
Maiha commended AfDB for its commitment to Nigeria’s development, particularly through initiatives like the Investment in Digital and Creative Enterprises (I-DICE) and the Nigerian Youth Entrepreneurship Investment Bank (Nigeria YIEB), which have continued to strengthen economic participation among young Nigerians.
He acknowledged that while Nigeria is making progress in improving financial inclusion, a significant gap still remains, especially in rural communities. Citing the 2023 Access to Finance Survey by EFInA, the Minister noted that formal financial inclusion rose to 64% in 2023 from 56% in 2020.
However, 26% of adults and approximately 28.8 million Nigerians remain financially excluded. This group, he emphasized, is predominantly made up of rural farmers, dependents, and other underserved populations in Northern Nigeria.
“Financial exclusion remains highest in rural areas due to illiteracy, low fintech and banking penetration, sociocultural barriers, and poor infrastructure,” Maiha said. “These factors continue to alienate millions from the formal financial system and hinder both personal growth and national development.”
To address these challenges, the Minister highlighted ongoing efforts by the Ministry of Livestock Development, particularly the implementation of the Nigeria Livestock Growth Acceleration Strategy (NL-GAS). The ten-pillar strategy aims to expand the livestock sector’s value from $33 billion to $74 billion within five years.
Two of the strategy’s pillars, Finance & Insurance, and Women & Youth Initiatives were highlighted as key areas for potential AfDB collaboration.
The Women and Youth Initiative, he explained, seeks to directly empower 37,000 beneficiaries across Nigeria by equipping them with livestock, production kits, technical training, and financial tools to grow sustainable agribusinesses.
“This initiative will enhance food and nutrition security, boost household income, and create jobs in rural and peri-urban communities,” he stated. “It will also promote sustainable livestock practices, reduce migration pressure, and increase national productivity through efficient livestock value chains.”
The programme includes the provision of livestock such as cows, goats, sheep, pigs, poultry, and beehives, along with veterinary medicines and essential production kits.
Beneficiaries will also receive business formalization support, access to markets, and skills development in livestock management, veterinary services, processing, and marketing.
Maiha called on participants at the policy dialogue to develop effective strategies to integrate underserved groups—such as farmers, milkmaids, petty traders, and other livestock actors into structured financial systems.
He emphasized that meaningful financial inclusion for these populations would serve as a powerful public good and catalyst for sustainable national development.
