Minister of State for Industry, Trade and Investment, Aisha Abubakar, has said that the Nigerian dairy industry has the potential to generate about N300 billion monthly.
The minister was represented by the Permanent Secretary, Ministry of Industry, Trade and Investment, Mr Edet Sunday Akpan, at the stakeholders meeting for the development of policy framework for the dairy industry held in Abuja yesterday added that millions of jobs if appropriate technology and infrastructure are put in place.
He affirmed that the policy framework for the dairy industry will explore joint venture opportunities across strategic segments of the diary business.
He further said the framework will also provide financial relief that will boost growth of local dairy, improve current participation and attract women and youths to the sector.
According to him, the country spends about $1.3 billion annually on importation of dairy products, including milk, yoghurt, drinking milk products.
He said the consumption is expected to grow even beyond the present level, at the same time, as statistics indicates that there are about 19.5 million cattle of which 85 per cent are owned by individuals and manages by indigenous, small holder, subsistent owned by medium and large scale farmers in managed pastures.
He lauded those in the private sector that have been making effort in aggregating milk.
