Business
High Maize Price Sets Poultry Farmers For Crash
Poultry farms across the country are currently shutting down operations due to the persistent hike in the price of maize, a major feed for birds in the subsector, the Poultry Association of Nigeria (PAN) has said.
Based on this, PAN stated that the poultry subsector in Nigeria was heading for a crash if the government failed to salvage the industry.
In a statement, the association said, “At the moment, the poultry industry in Nigeria is on the verge of total collapse if urgent intervention is not channelled to it without further delay.
“We are aware that the government has declared a state of emergency on the food security situation of the country, but the situation of the poultry industry calls for an urgent intervention to save the industry from total collapse”, the statement said.
Jointly signed by PAN’s National President, Sunday Ezeobiora, and Director-General, Onallo Akpa, the statement said there had been an upward surge in the cost of maize, forcing farmers to shut down their operations.
It said, “The high surge in the price of maize and the near absence or scarcity of the product is causing farmers to close down their poultry farms at the moment because it is no longer sustainable to feed the birds and be in business.
“This is threatening the further development of the Nigerian poultry industry”.
Findings also revealed that the price of eggs, a daily protein source for many Nigerians, had soared by over 118.34 per cent after maize importation fell by 97.91 per cent.
According to data obtained from the National Bureau of Statistics, the price of one agric egg medium size rose to N89.17 as at May 2023 from N40.84 as at May 2020.
Meanwhile, the importation of maize, a major component of poultry feeds, fell to $1.82m as at the end of 2022 from $87.08m as at the end of 2020, according to data from the International Trade Center.
According to farmers who spoke with The Tide’s source, maize is a major component (60 per cent to 70 per cent) of poultry feed, and the increase in the cause of maize because of an import ban had translated to a rise in the price of eggs for the average Nigerian.
In 2020, the Federal Government banned the importation of maize into the country as the CBN added maize to the list of items restricted from accessing foreign exchange.
While Nigeria had banned the importation of maize, its local production has also suffered due to sustained banditry in the north.
A circular signed by the Director, Trade and Exchange Department, CBN, OS Nnaji, in 2020 stated, “As part of efforts by the Central Bank of Nigeria to increase local production, stimulate a rapid economic recovery, safeguard rural livelihoods and increase jobs which were lost as a result of the ongoing COVlD-19 pandemic, authorised dealers are hereby directed to discontinue the processing of Forms M for the importation of maize/corn with immediate effect”.
The FG later gave concessions to four companies (Premier Feeds, Mills Wacot, Chi Farms, and Crown Flour) to import 262,000 tonnes of maize because of the importance of maize to the poultry industry. Nigeria has 400,000 metric tonnes of maize production shortfall.
According to a farmer, Dr Azeez Gbadamosi, the continued increase in the price of eggs was directly related to the increase in feeds. He told The PUNCH, “The increase in the price of eggs is due to the cost of feeds. Almost every week, the cost of feeds rises.
“Also, there is the cost of medication, transportation, and others too. The cost of feeds is majorly increasing because of the cost of maize; you know maize makes up more than 50 per cent of the feed. The cost of maize is on the rise because local production has really been hindered”.
Another farmer, who is also a veterinary doctor, Akintade Akintayo, said the price of feeds was the major reason why egg prices were rising. He lamented that in the last two weeks, the price of New Hope feeds, a poultry feed, had increased thrice.
The farmer, who operates Atade Farms, said, “Maize is like 60 per cent to 70 per cent of the whole feeds. The increase in the price of maize is one of the major factors. Maize is expensive because a few years ago, the importation of maize was limited. And the bulk of the maize we use for many of our general activities, including human consumption, is imported”.
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter