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Economy

Egg Prices Surge in Nigeria Amid Chick Shortage

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Egg

Nigeria egg prices surge as chick shortage hits poultry farms, pushing crate costs up to ₦8,500 and worsening food affordability

Nigeria is witnessing a sharp rise in food costs as the Nigeria egg prices surge, with a crate now selling for as much as ₦8,500 in some retail outlets, driven by a worsening shortage of day-old chicks in the poultry sector.

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Industry stakeholders and the Poultry Association of Nigeria said the supply gap has significantly reduced egg production nationwide, pushing farmgate prices to about ₦5,500 per crate, up from ₦5,000 recorded in January.

Retail prices currently range between ₦6,000 and ₦6,500, while supermarkets and large stores sell at higher rates of ₦7,000 to ₦8,500 due to additional logistics and operational costs.

The Lagos State Chairman of PAN, Mojeed Iyiola, attributed the situation to limited access to day-old chicks, noting that hatcheries are fully booked months in advance.

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According to him, farmers now face waiting periods of up to six months before securing new chicks, a delay that disrupts production cycles since the birds require time to mature before laying eggs.

The cost of chicks has also risen steeply, climbing from about ₦1,800 last year to approximately ₦3,300, further straining farmers’ capacity to sustain operations.

Stakeholders linked part of the challenge to restrictions on the importation of breeding birds, which are essential for local chick production. They have urged the Federal Government to expand import licences or allow direct importation of chicks to stabilise supply.

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Rising fuel prices have compounded the crisis, increasing transportation costs and amplifying the final price paid by consumers.

The development is placing fresh pressure on households, with eggs traditionally regarded as one of the most affordable sources of protein now becoming less accessible.

Consumers report steady price increases since the start of the year, with no immediate relief in sight, raising concerns about food security and nutrition.

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Earlier concerns within the poultry industry also highlighted a proposed $900 million partnership between the Federal Government and China aimed at boosting production capacity.

Also read: Nigeria’s Economy Expands 4.07% in Q4 2025, Services Lead Growth

While authorities say the initiative could raise output to six million eggs daily, experts warn that without addressing input shortages and structural bottlenecks, the plan may struggle to deliver meaningful results.

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Economy

NRS Assures Taxpayers VAT Remains at 7.5% Amid Tax Reform Concerns

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NRS

NRS VAT rate remains 7.5%, the agency says, while addressing concerns over bank deductions, loans and the implementation of Nigeria’s tax reforms

The Nigeria Revenue Service (NRS) has assured taxpayers that Nigeria’s standard Value Added Tax (VAT) rate remains 7.5 per cent, while addressing concerns over the implementation of the country’s new tax reforms.

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The assurance was given by the Tax Administrator responsible for Kano, Jigawa and Katsina states, Samaila Abdullahi, during an NRS stakeholders’ engagement and tax reform sensitisation programme in Kano.

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Abdullahi said concerns raised by individuals, traders, business owners and other stakeholders about the new tax laws were understandable, particularly questions relating to bank transactions, loans, family transfers, business income and the potential impact on small businesses.

He urged taxpayers to understand the reforms through the provisions of the law rather than rely on assumptions or misinformation.

According to him, the tax laws do not automatically authorise deductions from personal bank accounts.

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He stressed that tax collection and recovery must follow the applicable legal provisions and procedures.

Abdullahi also clarified that money received as a loan should not automatically be classified as business income or profit, explaining that proper documentation is essential to establish the nature of a transaction.

“For instance, when a trader receives a loan of N500,000, the amount should not automatically be treated as N500,000 in sales or profit, provided the transaction is properly documented,” he said.

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The NRS official’s comments were aimed at addressing public concerns about how the new tax framework would affect personal finances and business transactions.

He emphasised the importance of distinguishing between taxable business receipts and other funds, such as documented loans, when determining a taxpayer’s obligations.

The clarification comes amid heightened public interest in Nigeria’s tax reforms and questions about their implications for individuals, traders and small businesses.

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The NRS urged taxpayers to rely on the provisions of the law and official explanations when assessing their obligations under the new framework.

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