The Central Bank of Nigeria (CBN) says the poultry sub-sector is the most commercialised of all Nigeria’s agricultural sub-sectors with a current net worth of N1.6 trillion.
Godwin Emefiele, governor of the apex bank, made this known at a meeting with vice-chancellors of universities on the University-Based Poultry Revival Programme in Abuja on Monday.
He explained that the population of chickens was about 165 million, which produce approximately 650,000 metric tonnes and 300,00MT of eggs and meat altogether.
According to him, the demand situation is estimated at over 200 million birds, while the demand for eggs and meat are about 790,000MT and 1,500,000MT, leaving a huge demand gap which, unfortunately, is met through smuggling.
He said it was estimated that over 1.2 million MT of poultry meat is smuggled into Nigeria from Benin Republic.