Poultry Association of Nigeria Reports N6 Billion Loss

Poultry Association of Nigeria Reports N6 Billion Loss Due to Subsidy Removal and Cash Crunch.

The Poultry Association of Nigeria (PAN) revealed that it has incurred losses exceeding N6 billion due to several factors, including the removal of fuel subsidies, the impact of the Central Bank’s cashless policy, and other challenges. Speaking at the World Egg Day celebration in Abuja, Hon. Musa Hakeem, the Secretary of PAN FCT, emphasized that these losses are a result of the difficult economic environment, which includes currency fluctuations and the prohibition of maize and soybean imports.

The industry is further hampered by issues such as high disease rates, limited access to credit facilities, expensive feed, and the poor quality of chicks. Additionally, the high cost of veterinary services, a lack of technical expertise, and increased mortality rates are challenges faced by poultry farmers.

The removal of fuel subsidies has made the transportation of poultry and poultry products more challenging, causing the closure of 127 poultry farms in the Federal Capital Territory and reducing consumers’ purchasing power. Hon. Musa Hakeem called on the administration to support farmers and address these issues to reverse the current rise in unemployment and security challenges in the country.

Highlighting the poultry industry’s role as the largest employer of labor, he called for government intervention and urged President Bola Tinubu to help save the industry from potential collapse.

In his appeal, he also called for collaboration with the Ministry of Humanitarian Affairs and Poverty Alleviation to include PAN in the ministry’s Home Grown School Feeding program, particularly in the area of egg supply, which could create wealth and employment.

World Egg Day serves as an opportunity to promote the value of eggs as an affordable source of high-quality nutrients with significant socio-economic roles and environmental sustainability.

The event saw the participation of notable figures from the Poultry Association of Nigeria, including Ibrahim Lamidi, Ex-Official PAN North Central, and Abdullahi Abduljabar, a PAN member.