Lagos: The Lagos State Butchers Association has expressed concern over the continuous increase in cow prices, which have risen to N2.5 million from N1.7 million since 2025.
According to News Agency of Nigeria, the association’s Patron, Alhaji Bamidele Kazeem, revealed this information in an interview on Sunday in Lagos. Kazeem explained that the price surge is due to factors such as insecurity, increased transportation costs, and delays in local ranching initiatives.
“Cows that sold for about N1.7 million last year are now sold for between N2.3 million and N2.4 million. There was even a time a cow was priced at N2.5 million in the market,” he stated. Kazeem noted that the rising prices have put tremendous pressure on both butchers and consumers, with many traders finding it difficult to stay in business.
He highlighted the disparity between cow prices and those of used cars, saying, “The car I bought in 2020 for N2.1 million is now cheaper than the price of a cow. That shows how costly cows have become.” He also mentioned that cows previously sold for N1 million have become rare in the market. “If you see a cow of N1 million now, you will be surprised. What we complained about last year is a child’s play compared to the current prices,” he added.
Kazeem attributed the trend partly to the insecurity affecting livestock movement across parts of the country and the recent increase in fuel pump prices. “The supply was reduced because of insecurity in the country and most recently, the increase in fuel pump price that made the cost of transportation skyrocket,” he explained. He noted that higher diesel and petrol prices have worsened logistics costs, particularly for cattle transported from northern Nigeria, the primary source of livestock for Lagos markets.
He further stated that local producers were unable to fill the supply gap because planned feedlot and ranching programs in Lagos had not yet commenced. “The local producers are not meeting demand because the feedlots and ranching programme of the state government has not started yet. We still depend majorly on suppliers from the northern states,” he said.
Kazeem urged the government to expedite the implementation of the Eko Ranching project in Gbodu, Epe, asserting that it would boost local cattle supply, reduce transport costs, and help lower meat prices. “The gains of the ranch are enormous. It will provide job opportunities for our teeming youths and probably bring down the cost of meat,” he concluded.