The withdrawal of fuel subsidies has caused a decline in the cattle industry, according to Alhaji Sadiq Ibrahim, Chairman of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), in Bauchi State.
Ibrahim stated this on Thursday in Bauchi, claiming that the state’s daily and weekly livestock markets have experienced a decrease in the availability of cattle.
He claimed that since the withdrawal of gasoline subsidies, business for cattle ranchers has decreased by 70%.
He observed that the number of cows sold everyday had decreased from 40 to only four.
Ibrahim noted that people are more concerned with food for survival than meat because of the current economic turmoil.
The amount of buying and selling cattle has reduced by around 70%, and business activity is very different now.
He bemoaned, “Now you hardly see 4 to 5 cows, but before the removal of the fuel subsidy, if you went to the daily market, you saw nothing less than 30 to 40 cows.”
Following the termination of fuel subsidies in June, Nigerians have altered their spending habits, according to OBASANJO NEWS24.
