LCCI Raises Concern Over Nigeria's N4.46 Trillion Livestock Import Bill in 5 Years
The Lagos Chamber of Commerce and Industry (LCCI) has raised alarm over Nigeria's escalating livestock import bill, reaching N4.46 trillion from 2020 to June 2025. The LCCI President, Mr. Gabriel Idahosa, noted the country's trade deficit in livestock products, emphasizing the need for increased domestic investment to boost local production.
Nigeria's reliance on foreign supplies due to inadequate infrastructure and low productivity levels poses a threat to the economy. The country's poor investment in the livestock sector has led to a significant imbalance between imports and exports, impacting local producers and small agribusinesses.
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