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Beef Prices Soar In Lagos As Cost Of Cattle Hits Record High


The price of cattle in Lagos has surged dramatically, reaching as high as $1,613 which is roughly between N2.4 million to 2.6 million per cow, depending on the size, a development that is placing significant strain on both butchers and consumers across the state.

The Lagos State Butchers Association attributed the sharp increase to worsening insecurity in major cattle-producing regions, rising fuel costs, and delays in the implementation of ranching initiatives.

According to stakeholders, the situation has been compounded by a noticeable drop in the supply of cattle from northern parts of Nigeria, alongside escalating transportation and logistics expenses.

Market operators warn that the continued pressure on supply chains could further drive up the cost of beef if urgent measures are not taken.

Industry players are now urging authorities to accelerate the rollout of local ranching schemes, which they believe will not only stabilize prices but also ensure a more reliable supply of cattle to urban markets like Lagos.

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