News
Poultry association blames rising cost of egg on forex, greed
By Francesca Hangeior
The Poultry Association of Nigeria (PAN), Lagos State Chapter, has blamed increase in the price of eggs on the fluctuating foreign exchange rate and greed by some middlemen.
The Chairman of the Lagos State Chapter of PAN, Mr Mojeed Iyiola, said, the increase is caused by rise in the price of feed materials due to fluctuations in the Naira exchange rate with the dollar.
Reports have it that the price of eggs, as well as other poultry produce, has continued to increase.
A crate of eggs from the poultry farm gate now sells for about N3400, up from N2700 in January.
Meanwhile, Iyiola said, “The price of feed materials is the cause of the hike in the price of poultry produce, especially egg.
“The price of feed materials increases on a daily basis. You buy a bag of layers’ feed for N10,000 today, the next day it would have risen to N10,500 and so on.
“Dealers in poultry feed materials have blamed the fluctuations in the dollar exchange rate as the reason for the constant increment,” he said.
Iyiola said that major components of feed meal were being imported into Nigeria.
“The component of feed we do not import is maize. Even soybeans is partially imported into the country,” Iyiola added.
He said that farmers preferred to export soybeans to neighbouring countries for higher profits.
“They prefer exporting them to selling locally.
“The greed of middlemen in the sector, for extra profits, contributes to the consistent hike in egg prices.
“From the farm gate, the least we sell a crate of eggs is N3300 to N3400.
“Middlemen hike the price of the produce beyond normal; if you get a crate of eggs at the farm gate price, a profit of N200 is not bad.
“They prefer selling at higher rates, thus exploiting the average Nigerian,” he said.
Finally, Minister of Power Adebayo Adelabu has resigned from President Bola Tinubu’s cabinet.
In a resignation letter dated April 22, 2026, and addressed to President Bola Tinubu, Adelabu said the decision would take effect from April 30, 2026, to allow for a smooth transition.
The letter, routed through the Office of the Secretary to the Government of the Federation, stated that he was stepping down with “a deep sense of honour and profound gratitude.”
He wrote, “I write with a deep sense of honour and profound gratitude to formally tender my resignation as the Honourable Minister of Power of the Federal Republic of Nigeria. This resignation is to take effect on 30th April 2026, in order to allow sufficient time for a smooth and orderly handover of responsibilities.”
Adelabu thanked the President for the opportunity to serve, describing his appointment as a privilege.
He said, “Your Excellency, I remain sincerely grateful for the privilege and confidence you reposed in me by appointing me to serve our great nation in this capacity.
It has been a rare honour to contribute to national development under your leadership and to play a role in advancing reforms in the power sector—one of the most critical foundations of Nigeria’s industrial growth and economic transformation.”
By Gloria Ikibah
As part of efforts to strengthen the country’s security architecture, President Bola Tinubu, has sent a formal communication to the House of Representatives on seeking legislative approval for the repeal and re-enactment of the Nigerian Police Trust Fund (NPTF) Establishment Act, 2025.
The request which was transmitted to the House for consideration and passage on Wednesday at plenary, underscores the need to improve the management and administration of the fund, enhance police training, and provide modern equipment for the Nigeria Police Force.
According to the letter,, the proposed amendment is aimed at boosting the operational capacity, accountability, and sustainability of the Police Trust Fund in line with current security challenges.
The President urged lawmakers to give the bill expeditious consideration, as the said the reform will improve the welfare of police personnel and support skill development across the force.
In another development, the House Committee on Rules and Business has moved to tighten legislative discipline, directing all standing and ad hoc committees to submit reports on bills and motions within set timelines in line with House procedures.
Chairman of the committee, Rep. Francis Uwaive, reminded all committee chairmen to treat all assigned matters within 30 days, with the risk of losing such assignments after 60 days if no progress is made, except where a short extension is granted.
A firm deadline has also been set for all outstanding reports, with the end of April 2026 as the cut-off point, and non-compliance attracting automatic discharge.
Amid the formal proceedings, lawmakers briefly paused to celebrate two members marking their birthdays, acknowledging their contributions to public service and national development.
The mood later shifted as the House paid tribute to a former member of the Fifth Assembly, observing a minute’s silence in his honour following his passing after a prolonged illness.
He was remembered for his dedication and service to his constituents in Benue State, with colleagues noting that his death represents a significant loss to the legislature and the country.
Iran’s Revolutionary Guards said on Wednesday that their naval forces stopped two ships attempting to cross the Strait of Hormuz and directed them to the territorial waters of the Islamic Republic.
“The Islamic Revolutionary Guard Corps naval force this morning identified and stopped in the Strait of Hormuz two violating ships,” the Guards said in a statement.
“The two offending ships… were seized by the IRGC’s naval forces and directed to the Iranian coast.”
They identified one ship as “MSC-FRANCESCA”, which they said belonged “to the Zionist regime” in reference to Israel, and the other as “EPAMINONDAS”, which they said was “tampering with navigation systems and jeopardising maritime security.”
The Guards further warned against any action against the regulations imposed by the Islamic republic in the strait “as well as activities contrary to the safe passage” through the waterway.
Tehran has said vessels must seek permission to leave of enter the Gulf through Hormuz, through a route that in peacetime accounts for a fifth of the world’s oil and gas exports along with other vital commodities.
Source: AFP
BREAKING: Finally, Power Minister, Adelabu resigns from Tinubu’s cabinet
Reps Begin Review of Police Trust Fund Law, Tighten Timeline for Committee Work
Iran Seizes Two Ships attempting to cross Strait of Hormuz
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