The price of eggs is expected to decline soon, thanks to a continuing decrease in poultry feed costs. The Feed Millers Industry Practitioners Association of Nigeria (FIPAN) has credited this positive trend to recent agricultural policies implemented by the federal government, which are beginning to show tangible results.
Dr. Ayoola Oduntan, the national president of FIPAN, noted, “While agriculture takes time to reflect changes in the market, we are now beginning to see the effects. Some sellers had stockpiled goods when prices were elevated, but as the costs of feed decline, chicken prices are also dropping. It won’t be long before eggs become more affordable.”
He urged President Bola Tinubu to reconsider tariffs on essential imports within the livestock sector, cautioning that high duties and value-added tax (VAT) on imported feed additives and raw materials are driving up production costs. Moreover, he called for increased support for maize, soya, and groundnut farmers, as well as dedicated research funding to enhance the use of local raw materials.
Oduntan emphasized that challenges such as double taxation, airport delays, and bureaucratic obstacles pose significant barriers to the industry. Without necessary reforms, he warned that livestock farmers would likely face ongoing struggles with high feed prices, leading to job losses, decreased protein supply, and greater dependence on costly food imports.
Nonetheless, he acknowledged the government's efforts in stabilizing feed prices, citing improvements in security, the ban on maize and soya exports, and the establishment of the Ministry of Livestock Development as key initiatives. He also praised the recapitalization of the Bank of Agriculture, which he believes has fortified the agricultural value chain.
To maintain this positive momentum, FIPAN has recommended partnerships with agricultural agencies to implement contract farming for feed-grade maize, thereby reducing competition with human consumption.
0 Comments