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Currency Policy: How poultry farmers lose over N30bn, millions of eggs to Naira scarcity –AFAN

*Sunday Onallo-Akpa, National President of the Poultry Farmers Association of Nigeria, discloses the poultry farmers have lost over 15 million crates of eggs being unsold, and are damaged across the country

Isola Moses | ConsumerConnect

Resulting from the destabilising effects of Naira scarcity in the Nigerian economy, the Poultry Farmers Association of Nigeria (AFAN) had disclosed its members lost over N30 billion worth of over 15 million crates of eggs across the country.

Mr. Sunday Onallo-Akpa, National President of AFAN, said this Friday, March 17, 2023, in a statement issued in Abuja, FCT.

Onallo-Akpa noted “the poultry farmers in the country have lost over 15 million crates of eggs being unsold and are damaged.

“The average loss to the poultry industry as at this press release is in excess of over N30 billion.”

Poultry industry’s 25 percent Agriculture contribution to Nigeria GDP

Onallo-Akpa described the poultry industry in in the West African country’s economy as one of the most consolidated subsectors of agriculture, contributing about 25 percent of the Agricultural Gross Domestic Product (AGDP).

According to the Association, the industry employs over 25 million Nigerians directly and indirectly.

The poultry industry, Onallo-Akpa stated, has been a major employer of Labour and great source of financial empowerment, as well as livelihood for many families, especially women and youths.

AFAN’s statement said: “The industry is completely private sector driven worth over N3 trillion.”

The sub-sector of Agriculture has been able to contribute to the local domestication of investments in the country, noted he.

The President of Onallo-Akpa however alerted that the poultry industry is on the verge of total collapse and extermination because of the negative and devastating consequences of the new currency policy on the industry.

The President of AFAN also disclosed the “near absence of Naira notes for Nigerians to make daily transactions have made businesses in the poultry industry more difficult.

“Eggs being daily produced by poultry farmers since the first week of February 2023 till date have never been offtaken by 20% because of the near absence and lack of the Naira notes to buy basic food items and other necessary proteins like eggs and chickens.”

The Association urged the relevant Federal authorities for urgent intervention with a view to saving the important industry from eminent collapse.

Besides, Onallo-Akpa appealed to the Federal Government to mop up the eggs through AFAN for distribution to the most vulnerable old populations as part of the Social Investment Support to Nigerians.

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