He said the price hike is due to insecurity, rising transportation costs, and delayed local ranching initiatives.
Mr Kazeem said the measure would limit access to the abattoir to only authorised personnel.
Mr Rasak said that the development had led to reduced profit margins with many butchers struggling to survive.
The number of cows slaughtered daily in Lagos has dropped from 5,000 to 3,000, says the Lagos State Butchers Association.
The lack of history and background of cattle is said to be a major challenge confronting the country’s red meat value chain.
“If cattle are bred in one place, the price could go up to about two million naira each.”
