Nigeria Poultry Industry Suffers N100M Loss In Past Year As Economy Thightens

News in brief: Nigeria poultry industry reported a loss of over 100 million naira and the closure of more than 127 poultry farms, citing economic difficulties due to the removal of fuel subsidy, foreign exchange constraints, and import bans on key feed components. It is seeking collaboration with the Home Grown School Feeding program to boost the sector.

The Poultry Farmers Association of Nigeria (PAN) revealed that the industry has incurred a loss of over ₦100 million in the past year, a news report says. It claims that more than 127 poultry farms have also shut down.

Explaining the cause to journalists, PAN Secretary of the Federal Capital Territory Chapter, Musa Hakeem, blamed the country's economic difficulties caused by the removal of fuel subsidy.

His statement came during the World Egg Day celebration in Abuja, over the weekend. Hakeem mentioned other contributing factors such as foreign exchange constraints and a ban on the importation of maize and soybeans, which are important components of bird feed.

He further identified additional challenges like the high prevalence of diseases, limited access to credit facilities, expensive feed costs, and low-quality products.

The association executive urged the Minister of Humanitarian Affairs and Poverty Alleviation to involve PAN in the ministry's "Home Grown School Feeding" program in relation to the supply of eggs. He said this collaboration will promote wealth creation and employment opportunities throughout the supply chain.

Highlighting the significance of World Egg Day, Hakeem added that it is an opportunity to raise awareness about the nutritional benefits of eggs, which are excellent and affordable sources of high-quality nutrients. He also said that eggs play socio-economic roles by contributing to people's livelihoods, supporting economic independence, fulfilling dietary animal protein needs, encouraging investment, and providing security against risks for small-scale poultry farmers.