This body of work has one major problem it didn't consider the exchange rate correctly. For many calculation, you adopted the current rate for transactions from previous years. For example, while 1kg of chicken moved from 2,250 in 2021 to 5600 in 2024, the exchange rate in 2021 was about 600, while it is not 1600. If you do the calculation using prevailing dollar rate, a chicken cost $3.75 in 2021 and $3.5 in 2024. So the real problem is the change in the exchange rate. It is this change in exchange rate that has made all the factors of productions that are imported expensive.
As a fellow chicken farmer, this is a well balanced reportage. Kudos for this news piece. All the promised government intervention was and is currently a mirage. People accused us of greed yet ignore all this underlying factors and seek out imported albiet cheaper poorly preserved & smuggled chicken parts as substitutes. That's their call, their health and their decision. Farmers cannot become philanthropists and many barely break even in the present economy. Expect higher prices if farmers are left to flounder without reductions in operating costs.
This body of work has one major problem it didn't consider the exchange rate correctly. For many calculation, you adopted the current rate for transactions from previous years. For example, while 1kg of chicken moved from 2,250 in 2021 to 5600 in 2024, the exchange rate in 2021 was about 600, while it is not 1600. If you do the calculation using prevailing dollar rate, a chicken cost $3.75 in 2021 and $3.5 in 2024. So the real problem is the change in the exchange rate. It is this change in exchange rate that has made all the factors of productions that are imported expensive.
Man Nigeria is a powerful economy, nearly every ingredient they named for chicken feed is double the price in my country
@ they doubled in price because of the dollar. So basically, the true root cause was the fall of the naira.
As a fellow chicken farmer, this is a well balanced reportage.
Kudos for this news piece.
All the promised government intervention was and is currently a mirage.
People accused us of greed yet ignore all this underlying factors and seek out imported albiet cheaper poorly preserved & smuggled chicken parts as substitutes.
That's their call, their health and their decision.
Farmers cannot become philanthropists and many barely break even in the present economy.
Expect higher prices if farmers are left to flounder without reductions in operating costs.
Like these African Business Insider documents
In Cameroon, chicken is 3000fcfa and we think it is expensive. That's about 6000naira😂😂
3000 CFA is about 7500 more realistically. Chickens sold for as much as 10000 CFA equivalent.
WTH u talking about?? Chicken is the least expensive meat product in the global market! 🙄️🙄️ change the title to “IN NIGERIA”
Hahahaha completely agree. Beef and goat per kg is much higher
Tpain
Abado Republic, keep voting TPain and his likes into office. Shege never go round well.
You are just DUMB.
should be called Business insider nigeria not Africa if all your content focuses on them. Africa is not a single country!