Posted by Amarachi on Mon 04th Mar, 2024 - tori.ng
The decision, attributed to the soaring costs of transportation and other operational expenses, reflects the broader economic challenges facing businesses in the region.
The Oyo State chapter of the National Butchers Association has announced an imminent increase in the price of meat from Monday, March 4.
The decision, attributed to the soaring costs of transportation and other operational expenses, reflects the broader economic challenges facing businesses in the region.
During a prayer session held at the Agodi Gate prayer ground in Ibadan, Mr. Wahab Olayiwola, the Chairman of the association in the state, expressed that the butchery business is not insulated against the harsh realities of inflation and the escalating costs of staying afloat. “We urge the residents of the state to bear with us on this development; we were boxed into a corner before announcing this increase,” Olayiwola stated, highlighting the predicament faced by the butchers.
In light of these challenges, the association’s leadership is calling on the government for intervention to prevent the potential collapse of their trade. Olayiwola appealed for the provision of soft loans and the creation of a more conducive environment for selling meat at more affordable prices.
Echoing Olayiwola’s sentiments, Mr. Biliaminu Elesinmeta, the Southwest Coordinator of the butchers, emphasized the role of divine intervention during these trying times. “We believe in the power of prayer, but we also need the government’s assistance to mitigate the impact of the current economic situation,” Elesinmeta explained.
He further elaborated on the complexities of the meat supply chain, noting the reliance on cow imports from neighbouring countries and the financial burdens posed by foreign exchange rates and transportation costs.
Members of the butchers’ association, speaking at the prayer session, shared their struggles with operating at a loss and implored the government to take actionable steps to alleviate the economic pressures on their business.
This price adjustment in meat comes at a time when citizens are already grappling with inflationary pressures, making it a bitter pill to swallow for many. The butchers’ plea for government intervention underscores the need for comprehensive strategies to address the underlying economic factors contributing to price hikes, ensuring the sustainability of local businesses and the affordability of essential commodities for the populace.