The Feed Millers Industry Practitioners Association of Nigeria (FIPAN) has assured Nigerians that the price of eggs will soon drop as the cost of poultry feeds continues to decline.
FIPAN Seeks Tariff development is attributed to the Federal Government’s agricultural policies, which are beginning to yield results.
According to the National President of FIPAN, Dr. Ayoola Oduntan, the government’s policies have led to a reduction in the cost of poultry feeds. This decrease in feed costs is expected to trickle down to consumers, resulting in lower egg prices.
FIPAN has urged President Bola Tinubu to review tariffs on essential imports in the livestock sector. The association notes that high duty charges and value-added tax on imported feed additives and raw materials are affecting production costs.
To further reduce feed costs, FIPAN recommends supporting maize, soya, and groundnut farmers, as well as funding research to promote local raw material utilization. This will help reduce the country’s reliance on imported feed materials.
Despite the progress made, the poultry industry still faces several challenges, including double taxation, delays at the airport, and other bureaucratic bottlenecks.
FIPAN warns that without reforms, livestock farmers will continue to struggle with high feed costs, leading to job losses, reduced protein supply, and reliance on expensive food imports.
FIPAN commends the Federal Government for policies that have helped stabilize feed prices, including the improvement in security, the ban on maize and soya exports, and the creation of the Ministry of Livestock Development. The association also praises the recapitalization of the Bank of Agriculture, which has strengthened the agricultural value chain.
To sustain progress, FIPAN recommends partnerships with agricultural agencies to implement contract farming for feed-grade maize, reducing competition with human consumption. This will help ensure a stable supply of feed materials and further reduce costs.
The decline in poultry feed costs is a welcome development for the poultry industry and Nigerian consumers.
FIPAN’s call for a tariff review and support for local farmers is crucial in sustaining this progress. With the government’s continued support and reforms, the industry can overcome its challenges and provide affordable protein sources for Nigerians.