The Poultry Association of Nigeria (PAN), Lagos State chapter, forecasts a decrease in egg prices due to the Lagos State government’s N500 million farmers’ feed subsidy. This initiative, known as the Ounje Eko Farmers Subsidy Programme (Ounje Eko FSP), provides a 25% subsidy on animal feeds for poultry and fish farmers.
Chairman Mojeed Iyiola expressed optimism that the subsidy will lead to lower egg prices, citing the program’s potential to improve productivity in the sector. Currently, a crate of eggs sells for between N5,000 and N6,000, significantly higher than the N2,800 to N3,000 price range in the first quarter of 2024.
The distribution of the feed subsidy began on February 5 and will be done every Wednesday in February. Iyiola praised the Lagos State Government and the Ministry of Agriculture and Food Systems for the intervention, saying it’s a “fantastic idea” that will make the future brighter for poultry farmers. Iyiola hopes the initiative will continue beyond its four-week test run, leading to a drop in egg prices and increased productivity in the sector. He urged the state government to extend the intervention to more poultry farmers across the state, which would help prevent farm closures due to high production costs.
Source : https://thenationonlineng.net/
