"Eggs and Chickens are Expensive in Nigeria, Can I Make Money Starting a Poultry?" Expert Speaks

• A Nigerian man wants to start a poultry business but is unsure if it is a good venture to realise profit, considering inflation
• Taking into cognisance the increase in the cost of eggs and chicken, he is discouraged and worried about making profits from the business
• A poultry business owner advised on how to run a poultry business in the country successfully for profit

Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.

Justice (not real name) is contemplating starting a new business and feels and has been advised by a close friend to venture into the poultry business.

He is concerned about the alarming cost of chicken and eggs and has questions about profitability in the industry.

In a bid to ensure he doesn't make a wrong decision, he then asks:

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“The cost of eggs and chicken has become so expensive that the poor man can barely afford them in the face of rising inflation.

“I am looking to start a poultry business in Nigeria, but I can’t help but feel concerned about the future of the business as average Nigerians are now trying to ration their income for necessities.

"Would my business survive amid the macroeconomic heat that has sent many out packing?

Joshua Onuche is the CEO of Loyonder Farms, a poultry business in Nassarawa State. He has over five years of experience running the poultry. He graduated from Kogi State University, Ayingba, where he studied animal production.

Poultry business is still lucrative

The poultry business is still lucrative. What we are facing in the poultry business currently in Nigeria isn't peculiar to us. Every other sector is facing challenges, too.

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The capital needed to start a poultry business differs depending on;

• Location
• The type of bird/chicken
• The size of the farm, etc

For broilers, one would need a minimum of 200,000

For layers, one would need a minimum of 2 million naira

For boilers, 100,000 should be enough

Is it advisable to run a poultry farm?

Yes, despite the country's economic situation, people haven't stopped buying meat and eggs. The major challenge may be that many have reduced the rate at which they buy these things.

My response to this question is based on the farmer's target customers. The business is no longer lucrative for those who sell to off-takers.

It is no longer lucrative for those in a location with too many broiler farmers.

But it's still lucrative for those who have the opportunity to supply hotels and restaurants. It's still lucrative for farmers with a freezer for storing sla*ghtered birds. It is still lucrative for those who know wealthy persons who can afford it.

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More importantly, the egg demand is still high, so it's still lucrative for layer farmers.

Benefits of venturing into the business

There are several benefits to starting a poultry farm. First, in terms of income generation, the business is highly profitable and gives quick returns.

Also, it is a form of exercise. I recommend elderly people in the village who can't go to their crop farm to keep birds.

In addition, the one who rears birds can decide to eat the meat anytime he/she wishes.

The bad side

The rate at which thieves break into farms to steal birds these days is quite alarming.

Secondly, there is the tendency of disease outbreaks, which is the most scary part of the business. However, with proper management and biosecurity measures, a farmer may not need to be scared of this.

Sometimes, prospects and customers can disappoint the farmer. This is why this business requires a high level of proactive approach to win.

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Advice to starters

My advice for newbies is to get trained. This is not a type of business in which one can guess their way to success. A little mistake can crash many years of labour.

Disclaimer: Advice given in this article is general and is not intended to influence readers' decisions about business and ventures. Readers should always seek professional advice that considers their circumstances before making any decision.

Do you have a story to tell? Want an expert's advice? Please email us at ask.an.expert@corp.legit.ng with 'Ask an expert' in the subject line.

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With vast expanses of arable land and an environment conducive to agricultural cultivation and productivity, there lies immense potential. Experts shared a few ideas about some of the most lucrative agricultural businesses anyone in Nigeria can start in 2024.

Source: Legit.ng