30% of poultry farms shut down in Q1 2024 – PAN

The Poultry Association of Nigeria (PAN) has revealed that 30 per cent of poultry farms across the country have shut down in the first half of 2024 due to economic hardships.

Godwin Egbebe, the National Publicity Secretary of PAN, disclosed this in an interview with the News Agency of Nigeria (NAN) on Tuesday.

Egbebe attributed the closures to exorbitant operational costs, which have also caused a significant rise in egg prices nationwide. He stressed the urgency of government intervention to prevent the complete collapse of the poultry farming sector.

“About 30 per cent of local poultry farmers nationwide have shut down their farms due to the hardship faced in the sector in the first half of the year.

“The government needs to know the severity of the situation poultry farmers are facing in the sector,” Egbebe stated.

According to him, a crate of eggs, which cost between N2500 and N3200 at the beginning of the year, surged to N4200 by June 2024.

This development coincides with rising inflation rates in Nigeria. According to the National Bureau of Statistics, the country’s headline inflation reached 33.95 per cent in May 2024, with food inflation climbing to 40.66 per cent.

Egbebe warned that without intervention, the sector risks further decline, which could further increase food shortages and inflation.

About Blessing Anaro, Lagos, with agency report

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