Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News Politics

It Cost Nigeria N660 Billion To Import Frozen Chicken

EditorbyEditor
8 years ago
in Politics
It Cost Nigeria N660 Billion To Import Frozen Chicken
Share on FacebookShare on TwitterShare on Linkedin

National President, Poultry Association of Nigeria Ayoola Oduntan has revealed that Nigeria spent N660 billion to import 1.2 million metric tonnes (MT) of frozen chicken.

According to him, the figure was four times greater than local output and exceeded the industry capacity of 650,000 MT. Oduntan, who puts Nigeria’s poultry demand at 1.5 million MT annually, disclosed that the industry produced 300,000 MT in 2014.

Speaking at a workshop in Abuja, tagged: ‘The Economic and Health implications of Smuggled Poultry Products’, he said: “As at 2014, locally-produced chicken production, estimated at 300, 000 metric tons, a capacity utilisation of 46 per cent in an industry that boasts of 650,000 MT.”

“Also, 1.2 million metric tons of frozen chicken (N660 billion, equivalent to $2.75 billion) was imported.

“This was four times greater than what was produced locally and exceeding the industry capacity. A clear point here is that local poultry industry is far reaching its growth elastic limit.”

He added that the industry could create jobs if the activities of smugglers were regulated, noting that reducing smuggling by 30 per cent would result in one million jobs in 12 months.

Related

Tags: News Review

Leave a Reply Cancel reply

Press one
hfm
Mega Millions
fidelity banner
SME
HFM
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Nigeria’s money supply rises to N53.3 trillion in February 2023
  • Tinubu’s options for fixing Nigeria’s fiscal crisis are a banana peel
  • Nigeria hits record net domestic borrowing of N70 trillion

Follow us on social media:

Recent News

Banking sector needs a new operating model to remain profitable under a Tinubu regime

Nigeria’s money supply rises to N53.3 trillion in February 2023

March 27, 2023
Why Appeal Court Dismissed PDP’s Suit Seeking Disqualification Of Tinubu, Shettima

Tinubu’s options for fixing Nigeria’s fiscal crisis are a banana peel

March 27, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions
  • 2023 Elections

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections

© 2023 Nairametrics

error: Alert: Content selection is disabled!!