He said those interested in the business should go and set up private cattle ranches.
A bill to make movement of cattle from one location to another a criminal offence will soon be sent to the house of assembly, he said.
Fayose was speaking on Monday during his visit to Oke-Ako in Ikole LGA where two residents were killed on Friday by assailants suspected to be herders.
He said government will henceforth confiscate any cattle seen anywhere in the state apart from ranches created for them by their owners.
He described the attackers as “agents of the devil that must be fished out and punished accordingly”.