Cattle Prices Surge to ₦2.5 Million in Lagos State

The Lagos State Butcher Association has reported a dramatic increase in cattle prices, with costs reaching ₦2.5 million, compared to ₦1.7 million in 2022. Alhaji Bamidel Kazeem, a patron of the association, explained that this surge is due to factors such as insecurity affecting livestock movement, increased transportation costs from rising fuel prices, and a lack of local ranching initiatives.

Cattle that were sold for ₦1.7 million last year are now priced between ₦2.3 million and ₦2.5 million. Kazeem highlighted that the current prices place immense pressure on butchers and consumers, making it difficult for traders to sustain their businesses.

He noted that cows previously sold for ₦1 million have become scarce, and the rising costs are alarming. The association is urging the government to expedite the implementation of the Eko Ranch project to enhance local cattle supply and reduce transport costs, which would ultimately help lower meat prices and create job opportunities for youth.