The Poultry Association of Nigeria (PAN), Lagos State chapter, has predicted a decline in egg prices, provided the state’s farmers’ feed subsidy programme continues.
Lagos State PAN Chairman, Mojeed Iyiola, made this known during an interview with the News Agency of Nigeria (NAN) in Lagos on Friday.
The Lagos State Government, through its N500 million Ounje Eko Farmers Subsidy Programme (Ounje Eko FSP), is providing farmers with a 25% subsidy on animal feeds, covering both poultry and fish farming.
The initiative aims to enhance local agricultural production within the state.
The distribution of the feed subsidy commenced on 5 February and will continue every Wednesday throughout the month.
Currently, the price of a crate of eggs ranges between N5,000 and N6,000, depending on size. This marks a sharp increase compared to the N2,800 to N3,000 price range recorded in the first quarter of 2024.
Iyiola commended the state government and the Ministry of Agriculture and Food Systems for the intervention.
He expressed confidence that if the initiative extends beyond the initial four-week trial period, it could lead to a significant reduction in egg prices.
“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 future is looking bright for poultry farmers. We are indeed happy and grateful to the Lagos State Government for the intervention,” he said.
