Business
“Egg Prices Could Soar to N10,000 per Crate” – Poultry Farmers Warn
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.
Bitcoin has fallen below $63,000, reaching its lowest level since October 2024 amid weakening investor confidence and increased volatility in the cryptocurrency market.
According to CoinMarketCap data, Bitcoin dropped 13.9 per cent to $62,965 as of 10:20 p.m. on Thursday. The decline comes after months of downward movement, with the cryptocurrency now more than 45 per cent below its October peak.
Ethereum also recorded a sharp decline, falling 13 per cent to $1,863, while the global cryptocurrency market capitalisation dropped to $2.19 trillion.
Analysts reportedly linked the latest decline to a broader sell-off in US technology stocks, which has also affected other risk assets. Bitcoin had reached an all-time high of more than $125,000 on October 5 before falling sharply in the days that followed, highlighting the continued volatility in the crypto market.
Businessman Aliko Dangote has explained why he believes Nigerians should participate in the ownership of his refinery by purchasing shares.
He was asked by singer Davido why Nigerians should participate, and Dangote explained that the initiative would help spread wealth and prosperity across Africa.
“Well, it’s very important because that is the only way to spread prosperity and wealth throughout Africa. And like I said, this is not going to be the first and the last. We will continue with even our fertilizer. By the time we finish listing, every single one will own part of our businesses and we will create a pool of cash…”
He explained that the goal is to create opportunities for more Nigerians to own a stake in the businesses and help spread wealth across the country.
Aliko Dangote speaks on his lineage and addresses not having a son as he was asked about not having a son to carry his name and achievements.
“That is not my priority because God controls everything. You can pray for God to give you a son, but he might be the one to take down the name of the family.”
Instead, he shared that he does not mind not having a son. “I don’t think a son would have done better than the three daughters I have.”
Aside from that, he was also asked about giving advice to young Nigerians. “Work hard, be consistent, focused and know what you want to do.”
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