Poultry industry operators have warned that the scarcity of the naira is causing many businesses to fail, and the industry may collapse before the incoming government takes office in May unless action is taken to address the situation.
It has been reported that over 80% of the 76 million commercial layers that laid eggs since February have not been sold due to consumers’ inability to make cash purchases.
Dr Onallo Akpa, the Director-General of the Poultry Association of Nigeria, explained that wholesalers who purchase eggs from farmers cannot sell to consumers because they have no cash to make the purchase.
Akpa suggested that the government should buy unsold eggs and distribute them to vulnerable populations and encourage other institutions to purchase eggs. He also called for financial support to be provided to the industry to prevent its collapse.