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Naira scarcity: Poultry farmers lose £30bn, lament sales slump | The Guardian Nigeria News – Nigeria and World News

The Nigerian Poultry Farmers Association (PAN) said the industry has lost more than N30 billion worth of eggs since the Central Bank of Nigeria’s (CBN) implementation of Naira’s redesign policy.

According to them, the eggs produced daily by poultry farmers from the first week of February 2023 until now are in short supply, with few naira notes to purchase basic groceries and other protein needs. has never decreased by 20%. such as eggs and chickens.

Poultry farmers in the country have lost more than 15 million boxes of unsold eggs and have been damaged, according to a statement signed by the national president and the association’s secretaries, Sunday Ezeobiola and Onaro Acapa, respectively.

They argued that due to the negative and devastating consequences currency swaps would have on the industry as business in the poultry industry became more active due to the almost non-existence of Naira banknotes for Nigerians to conduct their day-to-day transactions. Expressed concern that the poultry industry is on the verge of total collapse. Difficult.

Unless the federal government intervenes, the poultry industry could collapse as “many poultry farmers are now indebted to commercial banks and suppliers of raw materials and other services.”

They called on the federal government to sweep the eggs through associations for distribution to the most vulnerable as part of their social investment support for Nigerians.

PAN has asked the military involved in various peacekeeping operations such as prisons, internally displaced persons and places in Nigeria, primary schools (school feeding programs) to be immediate offtakers of eggs.

They also appealed to the president to direct the National Emergency Management Agency (NEMA), the Peace Bureau.
We will keep the social investment programs of the Nigerian Armed Forces and the Ministry of Humanitarian Affairs and Disaster Management operational and work with the association on how we can extend emergency relief to poultry farmers.

They called on the government to make available direct subsidies and financial support to the industry through the association in a special package developed by the government and the association, stating that the above support and support to the industry are the current said it would mitigate the loss of .

Poultry industry, on the other hand, is one of the most integrated subsectors in the county. It contributes about 25% of the economy’s agricultural gross domestic product (AGDP) and directly and indirectly employs over 25 million Nigerians.

“Over the years, the poultry industry has been a major employer of the labor force and a significant source of economic empowerment and livelihoods for many families, especially women and young people.
Sector-driven value beyond N3t.

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