Home ECONOMY Economic Strain Forces Closure of 30% of Poultry Farms in Nigeria

Economic Strain Forces Closure of 30% of Poultry Farms in Nigeria

by inlandtownadmin
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In the first half of 2024, the Poultry Association of Nigeria (PAN) revealed that approximately 30% of poultry farms across the country have ceased operations due to severe economic challenges. This information was shared by Godwin Egbebe, the National Publicity Secretary of PAN, during an interview with the News Agency of Nigeria (NAN) on Tuesday.

Egbebe pointed out that the shutdown of these farms can be attributed to prohibitively high operational costs, which have also driven up the price of eggs across the nation. He emphasized the urgent need for government intervention to prevent the total collapse of the poultry farming industry.

“About 30% of local poultry farmers nationwide have shut down their farms due to the hardships faced in the sector during the first half of the year,” Egbebe stated, highlighting the gravity of the situation.

Furthermore, Egbebe mentioned that the price of a crate of eggs, which ranged between N2,500 and N3,200 at the start of the year, had escalated to N4,200 by June 2024. This surge in egg prices mirrors the broader trend of rising inflation in Nigeria, where the National Bureau of Statistics reported a headline inflation rate of 33.95% in May 2024, with food inflation soaring to 40.66%.

Egbebe cautioned that without prompt intervention, the poultry sector might experience further decline, exacerbating food shortages and inflation in the country. The pressing nature of these challenges underscores the need for immediate and effective government action to support poultry farmers and stabilize the sector.

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