Lagos Butchers Decry Cow Prices Hitting ₦2.5m Amid Supply Crunch

News in Brief

-The Lagos State Butchers Association raises alarm over cow prices surging to as high as ₦2.5 million, up from ₦1.7 million last year.

-An association patron urges swift implementation of the Eko Ranching project to boost local supply and cut transport expenses.

The Lagos State Butchers Association has decried the persistent rise in cow prices across the state's markets, with animals now fetching up to ₦2.5 million compared to ₦1.7 million in 2025.

Association patron, Alhaji Bamidele Kazeem, disclosed this during an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos. Highlighting the unprecedented escalation of cow prices, he compared the cost to that of used cars.

“The car I bought in 2020 for ₦2.1 million is now cheaper than the price of a cow. That shows how costly cows have become,” he stated.

This dramatic increase builds on earlier complaints from January 2025, when prices first hit ₦1.7 million, forcing daily slaughter rates down by 40% at key markets like Agege, Oko-Oba, and Mile 12. Cows priced at ₦1 million, once common, are now rarities, turning last year's grievances into 'child’s play,' he added.

Insecurity, Fuel Costs Disrupt Supply Chain

Kazeem pinned the hike on multiple factors, starting with insecurity hampering livestock movement from northern Nigeria, Lagos's primary source.

“The supply was reduced because of insecurity in the country and most recently, the increase in fuel pump price that made the cost of transportation skyrocket,” he explained.

Elevated diesel and petrol prices have inflated logistics, mirroring broader agricultural disruptions like those in Borno, where terrorist activities drove up grain costs.

Nationwide trends corroborate this, with cattle prices across Nigeria leaping to between 50% and100% from 2024 to 2025 due to inflation and supply bottlenecks, pushing medium cows to ₦800,000 or ₦1 million even in northern hubs.

In Lagos, flooding in the north added to 2025 woes, further spiking beef retail to about ₦6,000 to ₦8,000 per kilo and boosting demand for cheaper ponmo. These pressures come amid food inflation hitting 21.79% in early 2025, underscoring the sector's vulnerability.

Local Ranching Delays Widen the Gap

Local production remains inadequate, as planned feedlots and ranching programmes have not been launched, leaving Lagos reliant on northern suppliers.

“The local producers are not meeting demand because the feedlots and ranching programme of the state government has not started yet. We still depend majorly on suppliers from the northern states,” Kazeem stated.

He specifically called for accelerating the Eko Ranching project in Gbodu, Epe, part of Lagos's red meat value chain revamp for hygiene and self-sufficiency.

“The gains of the ranch are enormous. It will provide job opportunities for our teeming youths and probably bring down the cost of meat,” Kazeem said. 

Impact on Butchers and Consumers

The price spiral has crushed profit margins for butchers, many teetering on closure, while consumers face steeper meat bills in a city where beef is a dietary staple. Traders report halved slaughter volumes, shifting diets toward offals as ponmo prices climb with demand.

Kazeem warned of broader food security risks if unaddressed, aligning with expert calls for infrastructure and finance in livestock. 

Beyond the current situation, this rise in cow prices can further escalate as the Islamic Eid al-Adha (Ileya) festival approaches, tightening the noose on both the butchers and the consumers buying sacrificial animals.