The Lagos State Butchers’ Association has raised alarms about the escalating cost of cows, which threatens the livelihood of its members, urging the Federal Government to intervene to prevent the sector from collapsing.
In an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos, the association’s Chairman, Alhaji Taiwo Rasak, expressed concerns that the constant rise in cow prices has pushed Lagos butchers to the brink. Many are struggling to maintain profit margins and sustain their businesses.
“The cheapest cow you can buy now costs N700,000, compared to N200,000 to N350,000 before. Some cows now go as high as N2 million, depending on size,” Rasak revealed, adding that the situation would worsen with the approaching Ramadan season.
This spike in cow prices has significantly reduced profit margins for butchers, with some even fearing that they may have to close their shops if the trend continues. Rasak highlighted the dire situation at the Oja Awolowo Market in Mushin, where meat stalls have been left nearly empty due to a shortage of supply.
While Rasak acknowledged the government’s efforts to support butchers, he stressed the need for more immediate and effective action to address the sector’s challenges.
He suggested that investing in meat production could help stabilize the sector and keep both farmers and butchers in business, despite the soaring prices.
“To ease the pressure on meat sellers, the government must ensure that palliative loans are efficiently distributed to those who truly need financial support to keep their businesses afloat,” Rasak added.
He called for a transparent and fair system to distribute such loans, ensuring the funds reach the most affected vendors.
Rasak’s comments highlight the growing concern over food security and the broader economic implications of the livestock sector’s struggles. He urged the government to focus on long-term solutions to ensure the survival and growth of the industry.
