This, it said is due to the poor national economy and other associated sectoral challenges.
Chairman of the Poultry Association of Nigeria (PAN) in Lagos State, Mr. Mojeed Iyiola disclosed the distress that was being experienced by investors in the sector when he interacted with the News Agency of Nigeria, (NAN).
Mr. Iyiola highlighted the difficulties as increased in the production costs, particularly in the price of maize, a major ingredient in poultry feed production.
He said the price increased from N329.05 for 1kg in December 2022 to N589.75 by December 2023 amounting to a 79.23% increase year-on-year.
“We are currently unable to meet the demands of eggs due to the shortage of poultry farms. Presently, we have a very low supply of eggs with growing demands.”
“This is because nothing less than 50% of poultry farms around the country have shut down.”
“In fact, due to the shortage of supply, a crate of egg sells for as high as N3,000 and above even from the farm gate.”
“We do not pray that the price keeps increasing because it is detrimental to the average consumer."
Source: Egi News.