The Nigerian poultry industry is suffering due to record prices of maize and soybeans, essential inputs for poultry feeds, causing massive job losses and declining industry value. Maize prices have risen 89.6% and soybean prices 68% in a year, driven by low productivity due to insecurity and climate change. The Poultry Association of Nigeria (PAN) reports a 50% drop in maize production, severely impacting the industry, which has shrunk from N10 trillion in 2022 to N5.5 trillion. Persistent challenges, including high feed costs, inflation, and supply chain disruptions, have led to the closure of many farms and a 25 million job loss over four years. The situation is worsening food security and protein intake, with the price of poultry products soaring, making them unaffordable for many Nigerians. Source: BusinessDay
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The surging prices of maize and soybeans, critical inputs for poultry feed, are severely impacting Nigeria’s poultry industry. The price hikes are driven by low productivity due to insecurity and climate change, resulting in reduced food production and job losses. Farmers are burdened by high operational costs, leading to industry shrinkage and decreased consumer affordability of poultry products. Addressing these issues requires government action to improve security, infrastructure, and support for local agriculture, ensuring food security and sustainable growth.
