FUNAAB Global Convention: Nigeria Targets $74 Billion Livestock Economy through Strategic Modernisation

 At a landmark gathering on May 2, 2026, policymakers and industry leaders converged at the Federal University of Agriculture, Abeokuta (FUNAAB) for the 28th Global Alumni Convention and 27th Annual Lecture. The event served as a high-level platform to unveil Nigeria’s aggressive roadmap for transitioning from an oil-dependent economy to a global agricultural powerhouse.

The Honourable Minister of Livestock Development, Alhaji Idi Mukhtar Maiha (represented by Mr. Richard-Mark Mbaram), delivered a keynote address outlining a strategy to scale Nigeria’s livestock sector from $32 billion to $74 billion within a decade.

The creation of a dedicated Ministry of Livestock Development by President Bola Ahmed Tinubu to shift the sector from subsistence to a structured "business ecosystem."

Guest Lecturer and industrialist Alhaji Goke Adeyemi highlighted that while megatrends like AI are important, Nigeria’s immediate economic gains lie in solving basic inefficiencies. He noted that 50% of agricultural produce is currently lost to poor logistics, urging massive investment in cold-chain infrastructure and agro-processing to unlock export potential.

Vice-Chancellor Professor Babatunde Kehinde and Global Alumni President Otunba Bolaji Gbadamosi underscored the critical role of the diaspora in national development. A major highlight of the convention was a proposed partnership with the Federal Ministry of Livestock Development to transform the FUNAAB Farm Hub into a national innovation and demonstration centre.

The event concluded with a tour of the university’s 3.4MW hybrid solar power plant and the FUNAAB Alpha Animal Demonstration Laboratory, showcasing the institution’s readiness to lead in renewable energy and modern agribusiness.