Nigeria’s poultry sector is on the verge of imminent collapse following the recent lifting of the restriction policy on foreign exchange required for the imports of frozen chicken into the country, the Poultry Association of Nigeria has said.
On October 12, 2023, the CBN had lifted the ban on importers of 43 items restricted from accessing foreign exchange on its official platform.
“Importers of all the 43 items previously restricted by the 2015 circular referenced TED/FEM/FPC/GEN/01/010, and its addendums are now allowed to purchase foreign exchange in the Nigerian foreign exchange market,” the bank had stated in a statement.
Reacting to that in a statement issued in Abuja on Wednesday by the Director-General of PAN, Onallo Akpa, and the National President of the association, Sunday Ezeobiora, the poultry dealers stated that the over N12tn industry that provided over 20 million direct and indirect jobs might collapse.
They said the recent pronouncement from CBN would make Nigeria revert to the pre-year 2000 when Nigeria was a dumping ground for all sorts of imported poultry products.
“Recall the cases of unhealthy frozen poultry meat stored with chemicals imported into the country.
“The implications of the recent policy of the removal of forex and the further explanation by the CBN that the products were not even banned in the first place contravene the fiscal policy stands of the government and have obviously created an unacceptable impasse in poultry development.
“This recent announcement further heightened the fears of the farmers and investors in the poultry industry and compounded the already collapsing production in the sector,” PAN stated.