Why animal farming is profitable in Nigeria is no longer a question, instead it is a statement of curiosity about the lucrativeness of the market of animal farming in Nigeria. Nigeria is by far the leading livestock producer in Central and West Africa when its population and capacity for animal production with 25% of livestock herds in the sub-region is calculated.
The country’s cattle herds are estimated at over 16 million head, far ahead of Niger (8.7 million), Mali (8.2 million) and Chad (7 million). This humongous figure which is as a result of the consistent demand for animal production in terms of consumption brings us face to face with the question, quote, unquote statement of curiosity: Why Animal Farming is Profitable in Nigeria?
Why Animal Farming is Profitable in Nigeria.
Nigeria is a major hub of animal product consumption in West Africa. It is also one of the largest livestock-raising countries in the region. Meeting the ever-increasing domestic demand and access to these flourishing markets are major economic stakes for Nigeria and for the neighbouring Sahel countries that raise livestock.
Demand for beef is largely driven by the Federation of Nigeria, as Nigerians make up 50% of beef consumers in ECOWAS. Nigeria is experiencing a historic demographic expansion and a spectacular change in food habits.
With a population growth nearing 2.8% per year, the country’s own domestic production is far from being able to meet demand. Nigeria is therefore forced to import more than 25% of the beef consumed, and is therefore a major outlet for Sahel livestock, via direct sales or the moving of herds for commercial purposes.
Why Animal Farming is Profitable in Nigeria.
The strong rise in demand for animal products is due not only to the high rate of urbanisation (60% of Nigerians are city dwellers), but above all to consumers’ greater purchasing power and the emergence of a new middle class. Furthermore, this trade giant accounts for nearly 60% of international trade in the region.
This explosive demand for animal products largely contributed to the profitability of the business, not only for the government but also for any individual who hopes to embark upon it as a business.
Reasons for the Consistent Consumption/Demand for Animal Products.
The reasons for why there is an exponential increase in the profits from animal farming is due to the following usefulness of animals:
- Animal Wool and Hair for Clothing, Ropes and Tents
- Animal Hides and Skin for Leather
- Animal Produce Meat, Milk, Eggs, and Oil
- Animal Bones, Hooves and Horn for a Variety of Uses
- Animal for Transport, Ploughing and Farm Labour
- Animal for Security
- Animal for Sports and Recreation
Why Animal Farming is Profitable in Nigeria.
