The Lagos Chambers of Commerce and Industry (LCCI), has called for the inclusion of the fisheries and poultry subsectors to the newly instituted Livestock Ministry.
Gabriel Idahosa, president of LCCI said this at the chamber’s 2024 second-quarter press conference to address the state of the economy.
“We therefore suggest changing the name of the new ministry to the Federal Ministry of Livestock and Fisheries Development, leaving the Federal Ministry of Agriculture and Food Security to focus mainly on crop production,” Idahosa said.
The LCCI lauded the government’s initiative to create a livestock ministry, however, it noted that it is imperative to view it from the broader implications for the economy and the business community.
Idahosa said a robust livestock and fisheries sector can boost the agriculture sector’s contribution to GDP and help curb the record-high food inflation.
“The Q1 2024 GDP report showed that growth in agriculture, Nigeria’s largest single economic sector and employer, was very weak at 0.18 percent compared to 2.10 percent in the previous quarter.”
“This reflects a marginal growth of 1.71 percent in crop production and contributed over 91percent of the total output in the sector. The livestock and fisheries sub-sectors recorded weak performance,” the chamber’s president said.
“We expect to see some improvement in these sub-sectors with the creation of the Ministry of Livestock Development by the Federal Government,” he added.
Growth in the poultry industry fell by 23.29 percent in the first quarter (Q1) of 2024 from a contraction of 30.57 percent in the same period of 2023, according to data from the National Bureau of Statistics (NBS).
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Also, the NBS capital importation report revealed that the fisheries sub-sector of the agricultural sector did not receive any investment in Q1 2024.
The state chamber therefore urged the federal government to involve all relevant stakeholders including farming communities, pastoralists, state governments, in formulating and implementing policies, and establishing clear communication channels to ensure transparency and foster trust among stakeholders.
“The chamber urges the federal government to encourage the transition from traditional nomadic grazing to modern ranching systems, which can increase productivity, reduce conflicts, and provide incentives for private sector investment in ranching infrastructure, including access to credit, technical assistance, and subsidies,” Idahosa stated.
Also, Ladi Smith, vice-president of LCCI, said with the change as proposed by the Lagos chamber, the federal government will be able to have a clear overview of the sector as well as monitor prices in the value chain.
On how to tame soaring food inflation in the country, the LCCI urged the government to focus more on boosting the supply side of the food value chain and drop the idea of a recommended retail price for food items.
Idahosa said: “In a free market economy, the forces of demand and supply will always determine prices.”
Additionally, he said smallholder farmers, youths and women in agribusiness should be targeted for assistance, noting that this could further increase food production.
The LCCI also urged the government to avoid dependency on fertilizer importation but to support the development of local fertilizer production capacity to enhance long-term sustainability.
Idahosa called on the government to improve transportation infrastructure, including road networks, to reduce the cost of transportation and mitigate inflationary pressures across various sectors of the economy.
“Efforts should be intensified to strengthen agricultural value chains, including establishing adequate storage facilities and promoting agro-processing industries to reduce post-harvest losses and enhance food security,” he said.
