The Feed Millers Industry Practitioners Association of Nigeria has assured the country that the price of eggs will soon drop.
It said this will be possible as the cost of poultry feeds continues to decline.
National President of FIPAN, Ayoola Oduntan, attributed the development to the Federal Government’s agricultural policies, which, according to him, are beginning to yield results.
“Agriculture takes a lot of time to have an impact in the market, but the impact is coming. Some sellers stocked goods when prices were high, but as feed prices drop, the price of chicken is also falling. It is only a matter of time before eggs become more affordable,” he said.
Oduntan urged President Bola Tinubu to review tariffs on essential imports in the livestock sector, noting that high duty charges and value-added tax on imported feed additives and raw materials were affecting production costs.
According to him, supporting maize, soya, and groundnut farmers, as well as funding research to promote local raw material utilisation, will further reduce feed costs.
The FIPAN president also identified double taxation, delays at the airport, and other bureaucratic bottlenecks as factors hindering the industry.
He warned that without reforms, livestock farmers would continue to struggle with high feed costs, leading to job losses, reduced protein supply, and reliance on expensive food imports.
Oduntan also commended the Federal Government for policies that have helped stabilise feed prices, including the improvement in security, the ban on maize and soya exports, and the creation of the Ministry of Livestock Development.
He also applauded the recapitalisation of the Bank of Agriculture (BOA), which he said has strengthened the agricultural value chain.
He added that to sustain the progress, partnerships with agricultural agencies to implement contract farming for feed-grade maize, reducing competition with human consumption are important.
