Nigerian poultry farmers are reporting widespread shutdowns of poultry farms due to soaring prices of poultry feed and unsustainable production costs, among other sector challenges.
In interviews with PREMIUM TIMES, farmers warned that this troubling trend could lead to the collapse of Nigeria’s poultry industry if not urgently addressed by authorities.
The skyrocketing prices of key livestock feed ingredients, such as maize and soybeans, combined with increasing insecurity in farming communities, are significantly reducing poultry output. Farmers also noted that the general rise in prices has diminished the purchasing power of Nigerians, leading to poor sales of poultry products like eggs and broilers.
In recent years, prices of staple foods have surged amid widespread insecurity and fluctuating weather patterns. The situation worsened in the past year after President Bola Tinubu, upon taking office in May 2023, announced subsidy removals and other policies, triggering an economic crisis.
One immediate impact was a sudden over 100% increase in petrol prices, which raised transportation costs and, consequently, the prices of goods and services nationwide. Less than two months into his presidency, Tinubu declared a state of emergency on food insecurity to address rising food prices. However, prices of staple foods and livestock feed ingredients have continued to rise since he succeeded Muhammadu Buhari.
The rising costs of poultry products have made basic protein sources like eggs unaffordable for many, with egg prices doubling from N100 last year to over N200. Consequently, some farm owners have closed their businesses, and many have reduced production amidst fears that feed producers might have compromised feed quality due to high ingredient costs.
Data from the National Bureau of Statistics (NBS) indicates that, despite government efforts to boost food production, inflationary pressures persist. Nigeria’s inflation rate increased to 33.95% in May 2024 from 22.41% in May 2023, with food inflation rising to 40.66% from 24.82% over the same period.
