Posted by The present increase in the cost of cattle and livestock products is attributed to the current currency rate and the high cost of fuel, according to the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN).
In an interview with Newsmen on Friday in Abuja, Baba Ngelzarma, president of MACBAN at the national level, revealed this and said that the livestock business had suffered due to the increase in transportation costs.
Low patronage by grocers and butchers, he claimed, had an impact on the pastoralists’ means of subsistence.
According to him, the lack of purchasing power had caused many pastoralists and shops to lose their enterprises.
A fully developed cow would cost anywhere from N150,000 to N300,000 in 2022, but now you can get one for anywhere from N500,000 to N2 million.
Depending on where you live, a kilogram of meat can now cost anywhere from N5,500 to N6,000, up from N1500 to N2000.
Cows are expensive all across the nation due to skyrocketing prices of feed and medications, which in turn are caused by national inflation, the high cost of petroleum, and the growing value of the dollar.
He mentioned that there are additional expenses beyond feeding costs, such as the increased cost of moving cows from the forest to the market and from the market to other regions of the country.
To strengthen the naira and lower the cost of petroleum items, Ngelzarma pleaded with the federal government to implement a policy.
Consumables should be heavily subsidized by the government so that they are affordable and easy for the general public to access, he said.
The public will feel some relief from the current inflation rate and the misery of Nigerians will be much reduced if food is subsidized, in contrast to petroleum, which will open the door to corruption. Our economy and our ability to attract foreign exchange will be boosted by this gesture, he said.