Business
Egg Prices May Drop In Lagos If … Poultry Farmers
By Benjamin Abioye
The Lagos State chapter of the Poultry Association of Nigeria (PAN) has expressed optimism that the price of eggs could decrease if the government’s farmers’ feed subsidy program continues.
The Lagos State Government recently launched the ₦500 million Ounje Eko Farmers Subsidy Programme (Ounje Eko FSP), which provides a 25% subsidy on animal feed, poultry, and fish as a way of checking the price of eggs and other agricultural products. This initiative aims to support farmers and stabilize food prices.
Speaking on the development, the Chairman of PAN Lagos, Mojeed Iyiola, welcomed the initiative, stating that if extended beyond its initial four-week test period, it would significantly reduce 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,” Iyiola said.
He added, “The future is looking bright for poultry farmers; we are indeed happy and grateful to the Lagos State Government for the intervention. To a limited extent, we will begin to feel the impact of the intervention in the poultry sub-sector. We will definitely see a drop in the price of eggs and other poultry produce if this intervention continues beyond the four-week test run.”
Currently, the price of a crate of eggs has risen to between ₦5,000 and ₦6,000 as of January 2025, compared to ₦2,800 to ₦3,000 in early 2024.
In a previous statement, an official from PAN had noted that government intervention in the poultry sector could help reduce the price of eggs in and then ease the burden on consumers in Lagos.
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