Business

“Egg Prices Could Soar to N10,000 per Crate” – Poultry Farmers Warn

Published

2 years ago

October 13, 2024

Photo source: Google

The Poultry Association of Nigeria (PAN) has issued a warning that the price of eggs may skyrocket to N10,000 per crate if immediate action is not taken to support the poultry industry.

Currently, a crate of eggs sells for around N5,500, but rising production costs and lack of government intervention could lead to a steep hike.

According to PAN, the primary reason for this potential increase is the escalating cost of feed, which accounts for a large portion of poultry farming expenses.

Farmers have been grappling with the rising prices of maize and soybean, key ingredients in poultry feed, alongside other operational challenges like insecurity, inflation, and poor access to credit.

These factors have made it increasingly difficult for farmers to maintain their operations, forcing some to reduce production or shut down entirely.

The association has called on the government to provide subsidies for feed and other farming inputs, as well as create policies that will help stabilize the market.

They stressed that without these urgent measures, egg prices will continue to rise, affecting not just farmers but also consumers, many of whom rely on eggs as a key source of affordable protein.

The situation has raised concerns about food security and the affordability of basic food items, with PAN urging the government to address the issue before the country faces even more severe shortages and price hikes.

Business

MTN Advances IHS Holding Acquisition Following Shareholder Approval

Published

6 days ago

August 5, 2026

Ese Ohwofa

MTN has moved closer to acquiring IHS Holding, following shareholder approval of the proposed takeover, marking another major milestone in the transaction.

The approval was secured during the Extraordinary General Meeting (EGM) held on 4 August, allowing the deal to progress to the next stage.

If completed, the acquisition is expected to strengthen MTN’s infrastructure capabilities by giving the company greater control over its telecommunications tower assets. Industry analysts believe the move could improve network efficiency, reduce long-term operating costs, and support MTN’s continued expansion across its markets.

The transaction is still subject to regulatory approvals and other closing conditions before it can be officially completed.

Business

Nigeria’s Top Cement Makers Generate ₦3.2 Trillion in Six Months

Published

6 days ago

August 5, 2026

Ese Ohwofa

Nigeria’s three biggest cement manufacturers—Dangote Cement, BUA Cement, and HBM Nigeria—generated a combined ₦3.2 trillion in revenue during the first half of 2026.

The strong performance was driven by higher cement prices, increased demand from housing and infrastructure projects, and higher sales volumes across the country.

Compared to the same period in 2025, the companies recorded 26.5% revenue growth, showing that Nigeria’s construction sector continues to expand despite economic challenges. The companies also reported stronger profits and are investing further to increase production capacity to meet future demands.

Business

OPay Introduces New Security Features for Customers

Published

1 month ago

June 29, 2026

Ese Ohwofa

Nigerian fintech company OPay has introduced new security features to improve the safety of its application.

The company unveiled the Emergency Lock and Safety PIN features to give customers better control over their funds and provide added protection against fraud and unauthorized transactions.

The Emergency Lock feature allows customers to instantly freeze their OPay account with a single tap whenever they sense a threat or believe their account may be at risk.

The newly launched Safety PIN introduces an additional layer of security, helping customers protect themselves in situations where they may be forced to make a transfer or payment against their will.