Cashless policy: Egg farmers laments loss of over N30B revenue
The Poultry Farmers Association of Nigeria, PFAN, disclosed its members had forfeited more than N30 billion eggs due to the continuing cash scarcity of the Central Bank of Nigeria’s cashless policy.
In a statement on Friday, Sunday Onallo-Akpa, National president of PFAN, decried the economic loss being experienced by egg farmers in Nigeria.
He disclosed that members of the group had lost close to 15 million crates of eggs because of unsold and damaged products.
Onallo-Akpa stated the nation is longer benefiting from the economic potentials inherent in the sector.
He added that egg production has significantly dropped by 20 per cent due to the naira crisis.
According to him, the near absence of naira notes for Nigerians to make daily transactions have made the poultry industry business more difficult.
“The poultry farmers in the country have lost over 15 million crates of eggs being unsold and are damaged.
“The average loss to the poultry industry as of this press release is more than over N30 billion”, he said.
