N500m subsidy: poultry farmers predict drop in egg prices
The Poultry Association of Nigeria, Lagos State chapter, has projected a drop in the price of eggs with the sustenance of the state farmers’ feed subsidy
The state chairman of PAN, Mojeed Iyiola, said this in an interview with the News Agency of Nigeria in Lagos on Friday.
Recall that the Lagos State Government, through its N500 million Ounje Eko Farmers Subsidy Programme (Ounje Eko FSP), is empowering farmers with a 25 per cent subsidy on animal feeds (poultry and fish).
The initiative is aimed at boosting local agricultural production in the state.
The distribution of the feed subsidy began on February 5, and will be done all Wednesdays in the month of February.
A crate of eggs currently sells between N5,000 and N6,000, depending on the size.
In the first quarter of 2024, a crate of eggs sold for between N2,800 and N3,000.
Iyiola also lauded the state government and the Ministry of Agriculture and Food Systems for the intervention.
He expressed optimism that the initiative if sustained beyond the stipulated test run of four weeks, would make the price of eggs to drop.
“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.
NAN
