Home News PLRIC Calls for Unified Digital Taxation System to Attract Investment in Livestock Sector

PLRIC Calls for Unified Digital Taxation System to Attract Investment in Livestock Sector

by AgroNigeria

Nigeria’s Presidential Livestock Reforms Implementation Committee (PLRIC) has urged the federal government to introduce a unified digital taxation system and streamline regulations to attract investment in the livestock sector. 

This call to action was made at a two-day consultative workshop, led by former Academic Staff Union of Universities (ASUU) President Attahiru Jega, which brought together 400 experts from various groups, businesses, and academia.

Key Recommendations:

– Unified Digital Taxation: Implement a single digital taxation system for the livestock sector

– Streamlined Regulations: Eliminate overlapping regulations to simplify business operations

– Smuggling Prevention: Implement stricter measures to curb smuggling and ensure regulated importation

– National Animal Identification and Traceability (NAIT) System: Strengthen the existing system to address insecurity and market standards

– Comprehensive National Feed Security Program: Develop a program to ensure sustainable supply of grains, forage, pasture, and animal feeds

– Climate Change Mitigation: Develop targeted policies to address climate change impacts on livestock production

President Bola Tinubu pledged government support in revamping and repositioning the sector to create employment and attract foreign direct investment. 

The President assured stakeholders that their collaboration and investment would not be in vain.

This development comes after Nigeria officially inaugurated the development of a livestock master plan in July 2023, in collaboration with the International Livestock Research Institute (ILRI). 

The master plan aims to guide the development of the country’s livestock sector, which accounts for one-third of the 21% contribution that the agricultural sector makes to the national gross domestic product.

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