Poultry farmers across the nation have expressed deep concern over the significant financial setbacks they have experienced, amounting to over N3 trillion, due to the prevailing harsh economic conditions in the country.
The Poultry Association of Nigeria (PAN), Lagos State chapter, conveyed this information to the News Agency of Nigeria (NAN) during an interview on Monday in Lagos.
Mr. Mojeed Iyiola, the Chairman of PAN’s Lagos State chapter, highlighted that the challenging economic situation has compelled a majority of their members to exit the poultry business. He further revealed that the association incurred this substantial revenue loss in 2023 as a result of numerous poultry farm closures by members who were unable to meet their financial obligations to sustain their operations.
The economic consequences of these widespread farm closures since 2023 have been severe. Iyiola stated, “Since approximately 50 percent of poultry farms across the country were closed, the sector has suffered losses exceeding N3 trillion. Each state alone has incurred losses of approximately N6 billion, resulting in trillions of Naira being lost throughout the entire poultry value chain.” Despite the difficulties faced, Iyiola urged members to persevere and urged them not to abandon the industry.
Mr. Lanre Bello, a former Chairman of PAN’s Lagos State chapter, emphasized the multifaceted impact of the mass closure of poultry farms nationwide. One notable consequence has been the loss of a significant number of jobs within the sector. Additionally, many farmers have incurred debts, unable to repay loans due to their financial predicament. Bello asserted that the extent of these losses is immeasurable and called for urgent intervention to support poultry farmers. He highlighted the importance of the poultry industry as a valuable source of protein, noting that while chicken and eggs may not be inexpensive, they are still affordable.
Bello also underscored the significance of poultry products in human nutrition, particularly for children. He explained that eggs alone account for more than 50 percent of the protein requirements in a typical diet and contribute to brain development in young individuals. The decline of protein availability in our diets could lead to serious health risks, such as stunted growth in children. Bello emphasized the need to address these issues promptly to avert a potential crisis.
According to a report by NAN in the Guardian Newspaper, “the current market price for a crate of eggs ranges between N3,200 and N3,500, varying based on size”.
Via Guardian.