The over N12 trillion, including 20 million jobs created in Nigeria's poultry industry, is facing collapse following the new forex policy and the lift in the ban on imported poultry and processed poultry products by the Central Bank of Nigeria (CBN ).
This was the concern expressed by the industry's key players, the Poultry Association of Nigeria yesterday.
Earlier this year, PAN had expressed similar concerns, pointing to the huge negative impact of the naira redesign policy and the high cost of raw materials, especially maize and soybean in a country that has stifled poultry production, leading to the closure of over 30 percent of the farm enterprises and down-sizing of about 50 percent capacities of other poultry farms across the country.
However, the PAN leadership requested immediate action by the government to maintain the import restriction policy on frozen poultry products and eggs, engage with the association to make available needed raw materials, and request an immediate funding programme to prevent the industry from collapse.There was a problem processing your submission. Please try again later.
The statement reads in part:"The implication of the recent policy of the removal of forex and the further explanation by the CBN that the products were not even banned in the first place contravenes the fiscal policy stands of the government and has obviously created an unacceptable impasse in Poultry development.
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