The Poultry Association of Nigeria, PAN, Lagos State chapter, has targeted a drop in the price of eggs with the continuation of the government farmers’ feed subsidy.
According to NAN, the Chairman of the Poultry Association of Nigeria, Lagos State chapter, Mojeed Iyiola, disclosed in an interview.
This comes as the Lagos State Government, through its N500 million Ounje Eko Farmers Subsidy Programme, Ounje Eko FSP, empowers farmers with a 25 percent subsidy on animal feeds, poultry, and fish.
In reaction, Iyiola expressed optimism that the initiative, if sustained beyond the stipulated test run of four weeks, would make the price of eggs drop.
“The distribution of the feeds from the Lagos State Farmers’ subsidy programme, which commenced February 5, is a fantastic idea of the government.
“The future is looking bright for poultry farmers; we are indeed happy and grateful to the Lagos State Government for the intervention.
“To a limited extent, we will begin to feel the impact of the intervention in the poultry sub-sector.
“We will definitely see a drop in the price of eggs and other poultry produce if this intervention continues beyond the four-week test run,” Iyiola said.
Currently, the price of a crate of eggs increased to around N5,000 and N6,000 in January 2025 from between N2,800 and N3,000 in the first quarter of 2024.
Arogidigba Global Journal recalls that in November 2024, PAN’s Director General, Onallo Akpa, explained that the intervention fund by the federal government in the poultry will help crash egg prices.