The Poultry Association of Nigeria (PAN), Lagos State chapter, has projected a decline in egg prices due to the state’s ongoing feed subsidy program for farmers.
Chairman of PAN Lagos, Mr. Mojeed Iyiola, made this known on Friday in Lagos, highlighting the impact of the N500 million Ounje Eko Farmers Subsidy Programme (Ounje Eko FSP). The initiative provides a 25% subsidy on animal feeds for poultry and fish farmers to enhance local agricultural production.
The distribution of subsidized feed began on February 5 and will continue every Wednesday throughout February. Currently, a crate of eggs sells between N5,000 and N6,000, a significant rise compared to N2,800 to N3,000 in early 2024.
Iyiola praised the government for the intervention and expressed optimism that if the subsidy is sustained beyond the initial four-week test period, egg prices will drop.
He further urged the government to extend the program and ensure more poultry farmers benefit to prevent farm closures caused by high production costs.
Join Our Telegram Channel For Instant Notification
