The Federal Capital Territory Chapter of the Poultry Association of Nigeria (PAN) has declared a substantial loss of N6 billion attributed to the implementation of the Central Bank of Nigeria’s cashless policy, the removal of fuel subsidies, and several other factors.


    Hon. Musa Hakeem, the Secretary of PAN FCT, disclosed this in Abuja on Friday during the commemoration of World Egg Day. He highlighted that the loss was exacerbated by foreign exchange fluctuations and the restrictions on maize and soybean imports.

    Hakeem outlined various challenges faced by the poultry industry, including a high incidence of diseases, limited access to credit facilities, the exorbitant cost of feed, and the availability of poor-quality chicks.

    Furthermore, he underscored the adverse impact of the removal of fuel subsidies, which significantly impeded the transportation of poultry and poultry products across different locations.

    While expressing gratitude to the Minister of FCT, Hakeem emphasized the urgent need for government intervention to address the rising unemployment rate and tackle prevalent security challenges in the country. Highlighting the poultry industry as a major employer, he urged the minister to tap into the industry’s inherent potential and safeguard investments to attract more stakeholders.

    Additionally, Hakeem called on President Bola Tinubu to intervene and reverse the industry’s ongoing decline, preventing its imminent collapse. He urged collaboration with the Minister of Humanitarian Affairs and Poverty Alleviation, advocating for PAN’s inclusion in the ministry’s Home Grown School Feeding program, particularly in the area of egg supply, to generate wealth and employment along the supply chain.

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