• Business - Companies
  • Updated: March 20, 2023

Farmers' Association Says Poultry Industry Now Worth N3 Trillion

Poultry farmers under the auspices of the Poultry Farmers Association of Nigeria (PAN) have disclosed that the nation’s poultry industry is now worth N3 trillion even as it has been able to contribute to the local domestication of investments in the country.

The association disclosed this in a statement issued in Abuja, noting that the sector ought to be given proper recognition by the government at all levels for its contribution to job creation.

The National President of PAN, Sunday Onallo-Akpa, said the poultry industry has been a major employer of labor and a great source of financial empowerment and livelihood for many families, especially, women and youths.

“The industry is completely private sector driven worth over N3 trillion. It has been able to contribute to the local domestication of investments in the country.”

According to Onallo-Akpa, the poultry industry in Nigeria is one of the most consolidated sub-sectors of Nigeria’s agriculture contributing about 25 per cent of the Agricultural Gross Domestic Product (AGDP), creating over 25 million direct and indirect jobs.

He, however, disclosed that the recent Naira redesign policy of the Central Bank of Nigeria(CBN) had a negative impact on the bottom line of poultry farmers across the country as about 15 million crates of egg were unsold and some damaged during the period. 

The farmers nationwide, he added, also lost over N30 billion in the process. 

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Felicia Abisola  Olamiji
Felicia Abisola Olamiji

  A graduate of English Language from Olabisi Onabanjo University, passionate about learning new...

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