Naira Crunch: PAN Lament Impact of Naira Redesign on Egg Production
Gilbert Ekugbe
The Poultry Association of Nigeria (PAN) has stated that the Central Bank of Nigeria’s (CBN) Naira redesign policy has been creating untold hardship for poultry farmers in the country.
Addressing a media briefing, the National President of PAN, Mr. Ezekiel Ibrahim, raised the alarm over the level of havoc the policy has caused in the poultry industry.
He said that the prices of eggs have been crashing astronomically amid the scarcity of Naira to purchase grains to feed the poultry birds.
Ibrahim added that reports and complaints being received from its members nationwide indicated that the poultry sector is not doing well amidst since the introduction of new redesigned Naira notes in the country.
Similarly, the Chairman of Plateau State Chapter of PAN, Mr. Johnson Bagudu, expressed concerns on the daunting economic impasse that is currently trailing the poultry sector in the country since the introduction of the redesigned Naira notes.
Bagudu explained that members are already at crossroads since the cash scarcity that accompanied the Naira redesign policy intensified.
He said that farmers have been recording huge losses since the currency notes crisis began, which saw the price of a crate of egg dropped from N2,100 to N1,000.
