The Lagos State chapter of the Poultry Association of Nigeria (PAN) has projected a drop in the price of eggs with the sustenance of the state farmers’ feed subsidy.

Its chairman, Mojeed Iyiola, said this in an interview with journalists on Friday in Lagos.

The Lagos State government, through its N500 million Ounje Eko Farmers Subsidy Programme (Ounje Eko FSP), is empowering farmers with a 25 per cent subsidy on animal feeds (poultry and fish).

The initiative is aimed at boosting local agricultural production in the state. The distribution of the feed subsidy began on February 5 and will be done all Wednesdays in February.

A crate of eggs sells between N5,000 and N6,000, depending on the size. In the first quarter of 2024, a crate of eggs was sold between N2,800 to N3,000.

Mr Iyiola also lauded the Lagos State government and the Ministry of Agriculture and Food Systems for the intervention.

He expressed optimism that the initiative, if sustained beyond the stipulated test run of four weeks, reduce the price of eggs.

“The future is looking bright for poultry farmers; we are indeed happy and grateful to the Lagos State Government for the intervention.

“To a limited extent, we will begin to feel the impact of the intervention in the poultry sub-sector.

“We will definitely see a drop in the price of eggs and other poultry produce if this intervention continues beyond the four-week test run,” Mr Iyiola said.

The PAN chairman, however, urged the state government to continue the intervention and for its spread among more poultry farmers in the state.

“We just hope the intervention will be extended longer and will reach a wider range of poultry farmers across the state.

“This will stop the closure of poultry farms as we witnessed last year due to the high cost of production,” the chairman said.

(NAN)