Nigerians may soon face a staggering hike in egg prices, with the cost potentially rising from the current N5,500 to an eye-watering N10,000 per crate, according to the Poultry Association of Nigeria (PAN). This alarming forecast was made by Musa Hakeem, Secretary of PAN’s Federal Capital Territory (FCT) chapter, during a press briefing in Abuja to commemorate World Egg Day on Saturday, October 12, 2024.
Hakeem cited the removal of fuel subsidies and the unchecked rise in poultry feed prices by millers as major factors behind the escalating cost of egg production. He warned that if urgent action is not taken to support struggling poultry farmers, the situation could spiral out of control, leading to a nationwide crisis in egg availability.
"The prices of transportation and feed have skyrocketed, and if we follow the proportional increase in these costs, eggs should now sell for N10,000 per crate," Hakeem explained. "However, out of compassion and because of the crucial health benefits of eggs, we’ve kept prices at N5,500. But we cannot hold out for much longer."
With the rising cost of poultry feed, Hakeem predicted that egg prices may soon increase to N6,000 per crate. He urged the Federal Government to declare a state of emergency on egg production, warning that Nigerians cannot afford to rely on imported eggs, especially given the significant decline in domestic protein intake.
“To the best of my knowledge, the last time we received any form of grain intervention from the government was three years ago," Hakeem lamented. "The promises of relief from high food prices that we hear about are only on the pages of newspapers."
Also weighing in, Jude Arikogu, CEO of Pest Agro Dealers, criticized the millers for their unethical practices, accusing them of not only raising prices indiscriminately but also delivering underweight feed. “A 25kg bag of feed barely weighs 23kg when put on a scale,” he said, adding that poultry farmers are unable to access financing from banks, as financial institutions remain unwilling to support them.
PAN’s national ex-officio officer, Ibrahim Lamidi, described the business environment as hostile, with many poultry farmers struggling to stay afloat. He emphasized the importance of eggs in the Nigerian diet, calling on consumers to choose eggs over meat, as they are more protein-rich and affordable.
