Cow prices hit N2.5m, higher than used cars, butchers lament

The Lagos State Butchers Association has decried the persistent rise in the prices of cows in the state, currently selling at N2.5 million, from N1.7 million in 2025.

The association’s patron, Alhaji Bamidele Kazeem, announced this in an interview with the News Agency of Nigeria (NAN) yesterday in Lagos.

Kazeem attributed the price hike to insecurity, rising transportation costs, and delayed 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 said.

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Kazeem said the rising prices had placed heavy pressure on butchers and consumers, with many traders struggling to remain in business.

“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 said.

The association’s patron lamented that cows sold for N1 million had become scarce 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 said.

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,” Kazeem said.

The union’s patron stated that higher diesel and petrol prices had worsened logistics costs, especially for cattle transported from northern Nigeria, the main source of livestock for Lagos markets.

Kazeem said local producers were unable to bridge the supply gap because planned feedlot and ranching programmes in Lagos had yet to begin.

“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,” Kazeem said.

The union’s patron urged the government to speed up implementation of the Eko Ranching project in Gbodu, Epe, saying it would increase 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 said.