The Chairman of the Poultry Association of Nigeria (PAN), Lagos State Chapter, Mr. Mojeed Iyiola, has reported that the state government’s maize palliative significantly benefited the industry leading to a drop in maize prices.
In an interview with the News Agency of Nigeria (NAN) in Lagos on Thursday, Iyiola remarked on the reduction in prices following the subsidy.
He explained that the cost of a crate of eggs at the farm gate decreased from between N3,500 and N3,700 to N3,200 and N3,400 due to the government’s intervention.
Iyiola also pointed out that retailers and middlemen sell eggs at prices ranging from N3,800 to N4,200 primarily for their profit.
Furthermore, Mr. Iyiola called on the federal government to toe the path of the Lagos state government in providing maize palliative to poultry farmers across the country to cushion the effect of high maize prices on the industry.
Following the rapid increase in the price of maize in 2023, the Lagos state chapter of the poultry association reported that around 50% of poultry farmers have closed their shops.
Rising maize prices, a crucial component of poultry feed, have significantly driven up production costs in the poultry industry. For instance, the price of maize surged by 79.23% in 2023. The National Bureau of Statistics (NBS) food price index for December 2023 also indicated an 81.71% increase in the cost of chicken feet over the course of the year.
