News in Brief:
– Oyo butchers have raised meat prices due to increased transportation costs and other expenses.
– They are seeking the help of the government through soft loans and a more favourable business environment to keep running their businesses.
The National Butchers Association in Oyo State has announced an increase in meat prices, effective Monday, 4 February 2024. It attributed the change to escalating transportation costs and other operational expenses.
This decision comes amidst broader inflationary pressures across the country. Chairman of the association, Mr. Wahab Olayiwola, expressed the butchers’ struggle to maintain their businesses in the face of rising costs. He appealed to residents for understanding while urging government intervention through measures such as soft loans and facilitating a more favorable business environment for price reductions.
The association’s southwest coordinator, Mr. Biliaminu Elesinmeta, emphasised the body’s belief in prayer and their hope for government support in addressing the challenging economic climate. He highlighted their dependence on external suppliers and the high cost of importing cattle from neighboring countries, impacting their bottom line.
Meantime, several association members echoed concerns about running at a loss and urged government intervention at all levels to ensure the viability of their businesses.
This hike in price could see consumers change their nutrition habit and consider other sources like eggs for their protein needs. A change like this could affect businesses in the meat industry and lead to collapse of some of them.
