BUSINESS DAY
The average price of a crate of eggs has hit N6, 000 in various parts of Nigeria, from less than N3000 per crate 12-15 months ago.
The major driver of the rising price is the skyrocketing cost of inputs, particularly feed, maize and soybeans. High petrol prices have also been blamed for the price jump.
A metric ton of maize currently goes for N710,000 as against N480,000 per metric ton in 2023, indicating a 48 percent price rise in one year, according to prices on AFEX Commodity website.
Similarly, a metric ton of soybeans now sells for N837,000 as against N425,000 in the corresponding period of 2023, representing a 97 percent increase in price over a one-year period. Poultry feed has exceeded N20, 000 per bag from N9,000 sold a year earlier.
Pius Aminu, chairman of the Poultry Association of Nigeria (PAN), FCT Chapter, said the rising egg prices have resulted in nutritional deficiencies across the country.
Aminu urged the federal government to declare a state of emergency on egg production to ensure accessibility and affordability of the poultry product for citizens.
“The federal government should urgently declare a state of emergency on egg production. The current decline is alarming, and the country cannot afford to rely on egg importation,” Aminu said.
Aminu noted that foreign exchange fluctuations and high petrol prices have driven eggs prices across the nation.
He noted that the situation has forced several farmers out of business, leading to the closure of hundreds of poultry farms and a rise in unemployment.
“The poultry industry employs a significant number of people, especially in lower-income groups. Each farm typically has at least four to five staff, so the closure of 100 farms directly translates into higher unemployment rates,” Aminu further said.
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