N500m Subsidy: Poultry Farmers Predict Significant Reduction in Egg Prices.

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The Poultry Association of Nigeria (PAN), Lagos State chapter, is optimistic that the price of eggs will drop due to the state government’s feed subsidy program. According to Mr. Mojeed Iyiola, Chairman of PAN, Lagos State chapter, “The distribution of the feeds from the Lagos State Farmers’ Subsidy Programme, which commenced on February 5, is a fantastic idea of the government.”.

The Lagos State Government has launched the N500 million Ounje Eko Farmers Subsidy Programme (Ounje Eko FSP), which provides a 25% subsidy on animal feeds for poultry and fish farmers. This initiative aims to boost local agricultural production in the state. The feed subsidy distribution began on February 5 and will continue every Wednesday throughout February.

Currently, a crate of eggs sells for between N5,000 and N6,000, depending on the size. However, in the first quarter of 2024, the same crate sold for between N2,800 and N3,000. Iyiola praised the Lagos State Government and the Ministry of Agriculture and Food Systems for their intervention, expressing hope that the initiative would lead to a decrease in egg prices if sustained beyond the initial four-week test run.

“The future is looking bright for poultry farmers. We are indeed happy and grateful to the Lagos State Government for the intervention,” Iyiola said. He also urged the state government to extend the intervention beyond the four-week test run and expand its reach to more poultry farmers across the state.

Iyiola noted, “We were told the intervention will run for four weeks, and I believe it has the possibility of improving the productivity of the sector. We just hope the intervention will be extended longer and will reach a wider range of poultry farmers across the state. This will stop the closure of poultry farms, as we witnessed last year due to the high cost of production.

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