The Lagos State Ministry of Agriculture and Food Systems has announced the commencement of Phase II of the Ounje Eko programme to reduce food prices ahead of the yuletide season.

PAN Vice-President and Chairman of the Aiyedoto Poultry Farmers Settlement, Mr Foluso Adams, made the statement in an interview on Monday in Lagos.

Following the intervention of the Ounje Eko Phase 2 Farmers’ Subsidy Programme, the Poultry Association of Nigeria (PAN), Lagos State Chapter, has assured Residents in Lagos State that they can expect a drop in poultry produce prices.

Adams noted that the subsidy would significantly support local farmers and lead to a reduction in poultry product prices. 

“We expect to drop the price of crates of eggs from N5,500–N6,000 to about N5,100–N5,300. The intervention will help because, with the discount provided, poultry farmers have agreed to reduce the price,” he said.

However, Adams clarified that not all farmers would benefit from the subsidy due to the brand of feed being distributed. 

“It is only the Animal Care brand that is being offered, and some farmers use other brands. We have already advised our members to take advantage of the subsidy and contribute back to society by lowering prices,” he added.

He explained that materials would start arriving on Wednesday, with 50 farmers in his settlement set to benefit initially. 

“With this intervention, other feed processors are also reducing the prices of their commodities so that they remain competitive in the market,” Adams said.

The PAN Vice-President also indicated that the price reduction could affect chicken sales during the yuletide season, although discussions on this are ongoing. 

He further suggested that if other states adopted similar measures, poultry produce prices nationwide could fall significantly during the festive period.

Source: NAN