The Miyetti Allah Cattle Breeders Association of Nigeria has attributed the current hike in prices of livestock and livestock products to the prevailing exchange rate and high cost of fuel.

The national president of MACBAN, Baba Ngelzarma, who spoke with journalists on Friday in Abuja, said surge in transportation prices negatively affected the livestock business.

Mr Ngelzarma said that the challenge had affected the source of livelihood of the pastoralists due to low patronage by retailers and butchers.

He said that a lot of the pastoralists and retailers had lost their businesses due to lack of purchasing power.

The price of a fully-grown cow as at 2022 ranged from N150,000 to N300,000 while at present it ranges from N500,000 to N2 million depending on the size .

One kilo of meat previously sold for N1500 to N2000 previously, now goes for N5500 to N6000000 depending on the location.

“Generally, inflation in the country, high cost of petroleum and escalating price of dollars are the contributing factors to high cost of cow across the country because prices of cow feed and medications have increased astronomically.

“Increase in cost of transporting cow from the forest to the market and from market to other parts of the country is another extra cost in addition to the cost of feeding among others.’’

Mr Ngelzarma urged the federal government to adopt a policy that would improve the naira as well as reducing the price of petroleum products.

He said that the government must prioritise subsidy on consumables for easy access and affordability by the general public.

“Subsidising petroleum will create an avenue for corruption but when you subsidise food, the public will feel a sort of respite from the current inflation rate and will go a long way to alleviate the suffering of Nigerians

“The gesture will boost our economy and attract foreign exchange, ” he said.

Meanwhile, Muhammed Adamu, a cow dealer and butcher in Mararaba, Nasarawa state, who blamed the hike in cow price on insecurity, described the situation as unbearable to the butchers, meat sellers and consumers.

Mr Adamu said a lot of them were scared to go into the forest to buy cows at cheaper rate due insecurity.

He said there had been instances where some of their colleagues were kidnapped and killed in the forest on the verge of buying cows.

According to him, at the moment, they buy their cows from pastoralists within the town at very high prices.

“If we purchase a cow today at the rate of 1 million naira, the possibility of buying after selling is little, because most times, after selling, we do not realise the cost price.

“We source for money elsewhere to balance the deficit and additional cost at the moment to enable us to sustain the business because the price of cows is continuously on the rise,” he said. 

(NAN)