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Poultry association blames rising cost of egg on forex, greed

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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.

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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.

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“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.

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“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.

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“They prefer selling at higher rates, thus exploiting the average Nigerian,” he said.

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Insecurity! Bandits Ask For Additional N44m, 10 Motorcycles After Collecting N16m Ransom

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The bandits who kidnapped the Head of the Zamfara State Office of Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, Alh. Bashir Aliyu Abara Gummi, are demanding an additional N44m ransom to release him after collecting N16m from his family.

Gummi was abducted in October 2024 along Funtua-Gusau Road while travelling to Abuja to represent the Zamfara State Government at a meeting.

The bandits opened fire at moving vehicles, k!lling two persons before kidnapping the coordinator and scores of other travellers.

It was gathered that his family managed to gather N16,000,000 ransom which the kidnappers accepted but refused to release him.

According to a source, they are now demanding a new ransom of N44,000,000, along with 10 motorcycles.

“We implore the State Government to take immediate action to save this important individual, as the kidnappers have set a deadline of Thursday, February 6, 2025, which was yesterday”, the family source added.

Meanwhile, the bandits have released a video of the victim, pleading for help.

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Nigeria Customs Imposes 4% Charge On FOB Imports

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A 4% charge has been placed on Free On-Board (FOB) value of imports by the Nigeria Customs Service (NCS).

This was announced by the NCS spokesman, Abdullahi Maiwada in a statement on Wednesday in Abuja.

Maiwada noted that the directive was in line with the provisions of the Nigeria Customs Service Act (NCSA) 2023.

“In line with the provisions of Section 18 (1) of NCSA 2023, the NCS is implementing a 4 per cent charge on the Free On-Board (FOB) value of imports.

“The FOB charge, which is calculated based on the value of imported goods, including cost of goods and transportation expenses incurred up to the port of loading, is essential to driving the effective operation of the service.

“Furthermore, the NCS acknowledges concerns raised by stakeholders over the sustained collection of 1 per cent Comprehensive Import Supervision Scheme (CISS) fee.

“It is a regulatory charge imposed for funding Nigeria’s Destination Inspection Scheme alongside the 4 per cent FOB charge.

As a responsive government agency, the service wishes to assure the general public that extensive consultation is ongoing with the Federal Ministry of Finance to address all agitations raised by our esteemed stakeholders, “ he said.

He urged all stakeholders to comply with the directive, which was conceived after extensive consultation with relevant stakeholders and organisations.

“All stakeholders are urged to support this legally binding initiative.

“As the measures introduced in alignment with the NCSA 2023 reflects a balanced approach born out of extensive consultations with industry players, importers, and regulatory bodies,” he said.

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US aviation authorities panic as plane goes missing midair

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US authorities are looking for a small plane carrying 10 people that has been reported missing in the state of Alaska.

The US Coast Guard for the Alaska region said a Cessna Caravan craft was 12 miles (19km) offshore on a flight from Unalakleet to Nome when “its position was lost”.

The two cities are some 146 miles from each other across the Norton Sound, an inlet of the Bering Sea on Alaska’s western coast.

Search and rescue crews “are working to get to the last known coordinates” of the flight, state officials said in a statement.

They said they had been notified of an “overdue” aircraft operated by the airline Bering Air at 16:00 local time on Thursday (01:00 GMT).

The 10 people on board comprised nine passengers and a pilot, the update from the Alaska Department of Public Safety said. There was no information immediately available about who was on board.

The volunteer fire department in the landing city Nome said the pilot had told air traffic controllers that “he intended to enter a holding pattern while waiting for the runway to be cleared”.

David Olson, director of operations for Bering Air, was quoted by Sun UK as saying that the aircraft left an airstrip in Unalakleet at 2:37 pm before officials lost all contact less than an hour later.

It was 12 miles offshore when it was last sighted, according to the US Coast Guard.

Nome Volunteer Fire Department said in a statement: “We are currently responding to a report of a missing Bering Air caravan.

“We are doing an active ground search from Nome and from White Mountain.

“Due to weather and visibility, we are limited on air search at the current time.

“National Guard, Coast Guard, and Troopers have been notified and are active in the search.”

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