Naira Shortage: Egg Losses For Poultry Producers Exceed N30 Billion – Association
According to the Poultry Farmers Association of Nigeria (AFAN), the impact of the Naira shortage in the nation caused its members to lose over 15 million boxes of eggs valued at over N30 billion.
This was announced on Friday by Mr. Sunday Onallo-Akpa, the National President of AFAN, in a statement sent to the News Agency of Nigeria (NAN) in Abuja.
The average loss to the poultry business as of this press release is in excess of N30 billion, according to the farmer. “The poultry farmers in the nation have lost over 15 million cartons of eggs being unsold and are damaged,” he added.
According to Onallo-Akpa, Nigeria’s poultry business is one of the most well-established sectors of the country’s agricultural sector, accounting for around 25% of the AGDP and directly and indirectly supporting over 25 million Nigerian jobs.
For many households, particularly those headed by women and young people, he said that the chicken sector has been a significant source of employment as well as financial empowerment and subsistence.
He said that the industry, which is valued over N3 trillion, is entirely private sector led and that it has helped the nation domesticate foreign investments.
Onallo-Akpa did warn that the new monetary policy is having disastrous and bad effects on the chicken business, which is on the edge of absolute collapse and extinction.
“Businesses in the poultry sector have become more challenging as a result of the near lack of Naira notes for Nigerians to use in everyday transactions.
Due to the near absence and shortage of NAIRA notes to purchase essential food products and other important proteins like eggs and chicks, poultry farmers’ daily production of eggs from the first week of February 2023 till this point has never been offtaken by 20%, according to the AFAN head.
Thus, he urged the Federal Government to act quickly to prevent the industry’s impending collapse.
As part of the Social Investment Assistance to Nigerians, Onallo-Akpa also urged the federal government to collect the eggs via the organization for distribution to the most vulnerable elderly populations.
