As the livestock industry faces a critical situation with many farms nearing bankruptcy, a former Dean, Faculty of Agriculture, University of Ilorin, Prof Abiodun Adeloye, has called for increased government'' financial support package to save the industry.

While the cost of animal feed has risen relentlessly, farmers said demand for poultry products has slowed down. As a result, many farmers are virtually bankrupt.

He said livestock producers were feeling the pinch as prices of corn, soybeans and other livestock feed go higher.

Livestock feeders are looking at severe losses never before experienced in the livestock sector. Adeloye urged the government to help struggling farmers cope with disease outbreaks, falling prices, and lack of resources.

According to him, there is a need for a tripartite links between livestock farmers, feed suppliers and banks to help the livestock sector solve long-lasting problems such as increased input costs, unstable prices and outlet for their products.

The livestock sector, mostly consisting of small-scale household farming, outdated techniques and a shortage of investment for farming, has been experiencing a difficult time as farmers struggle to access loans and attempt to conform to environmental protection regulations.

Adeloye said financial shortages were a major problem for farms. He asked the banks to offer farmers loans with preferential interest rates. According to him, the livestock industry is critical to the economy because it provides food to Nigerians.

He said demand for food would increase over the next decade due to population growth and increased business activity.

He said the need for livestock would rise in keeping with the trend.