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Poultry farmers count losses as over 50% shut down operations

The Nigerian poultry industry has been on the receiving end of the harsh economic policies currently plaguing the Nigerian business space.

Poultry farm [Pulse Ghana]

This was revealed by the Chairman of the Poultry Association of Nigeria, PAN, Lagos State chapter, Mojeed Iyiola, during an interview in Lagos.

According to him, poultry farmers who are still in business are unable to meet the growing demand for poultry produce by their customers across the region due to the shortage of poultry farmers.

Most poultry farms in the country closed down last year due to difficulties faced in the sector.

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“We are currently unable to meet up the demands of eggs due to the shortage of poultry farms. Presently, we have very low supply of eggs with growing demands.

“This is because nothing less than 50% of poultry farms around the country have shut down,” Iyiola said.

The Nigerian poultry industry has been on the receiving end of the harsh economic policies currently plaguing the Nigerian business space.

A significant factor which has led to the increase in the cost of production materials in the sector is the rise in maize prices- a major ingredient in poultry feed production.

Last year, the group revealed the poultry industry lost approximately ₦200 billion to the currency design policy of the Central Bank of Nigeria (CBN).

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PAN reported that the CBN policy led to the destruction of eggs, spoilage of frozen chickens, hindrance in selling products, and the unavailability of new naira notes for transactions.

The group also said it lost over ₦5 billion and more than 127 poultry farms, shut down operations due to the economic hardship caused by fuel subsidy removal.

Speaking further, Iyiola said there would be a positive change in the sector if the government intervened by subsidising feed inputs.

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