Jumoke Olasunkanmi
The Poultry Association of Nigeria (PAN) said that its members across the country have lost over N3 trillion in investments due to the prevailing economic challenges in 2023.
The chairman of PAN, Lagos chapter, Mojeed Iyiola stated this during a press conference on Monday.
He lamented the dire impact of the harsh economic conditions on poultry farmers which consequently has led many to exit the poultry business.
Iyiola stated, “Since the closure of about 50 per cent of poultry farms across the country, the sector has lost over N3 trillion. This is because, in each state, we are losing N6 billion. So, rounding it off, we have lost trillions of naira across all value chains of the poultry sector.”
Despite the grim situation, he urged members not to abandon the industry, emphasizing resilience in the face of adversity.
Former PAN Lagos chairman, Lanre Bello, also highlighted the multifaceted consequences of the widespread closure of poultry farms, including a substantial loss of jobs and mounting debts for members.
“The economic impacts of the massive closure of poultry farms across the country are numerous. One is the massive loss of jobs in the sector. A lot of people also lost their investments and are now indebted because of their inability to pay back their loans,” remarked Bello.
He underscored the critical role of the poultry sector in providing affordable protein through chicken and eggs.
“Nutritionists said eggs provide more than 50 per cent of protein requirements in the human diet and also aid brain development in children.
In most of our diets, protein is disappearing, and if we allow it to continue, we will be dealing with a much more dangerous problem.” He spoke.
Expressing concern about potential health consequences, Mr. Bello warned against the impact of a protein intake decline, foreseeing a rise in stunted growth among children.
“In essence, the effects of the losses cannot be quantified, and the only way to rectify them is to come to the rescue of poultry farmers. We must come to the aid of the sector because poultry remains a viable source of protein, chicken and egg, which I would not say is cheap. But it is affordable”.
