Shocking Price Surge: How Much Is A Cow In Lagos Now?

The price of a cow in Lagos has seen a significant rise, with a ready-for-slaughter cow now costing between ₦1.6 million and ₦1.7 million.

This price hike, along with broader economic difficulties, has led to a decline in the number of cows slaughtered daily in the state, dropping from 5,000 to 3,000.

Alhaji Bamidele Kazeem, Patron of the Lagos State Butchers Association, explained in a recent interview with journalists that this decrease in slaughtered cattle is largely due to ongoing socio-economic challenges in the country.

He attributed the drop to various factors, including economic pressures, the Boko Haram insurgency, and the current exchange rate crisis. Kazeem noted that the situation has worsened since 2015 and highlighted the impact of rising inflation.

“Previously, a cow could be purchased for between ₦400,000 and ₦500,000 depending on breed, size, and location, but now we’re paying between ₦1.6 million and ₦1.7 million,” Kazeem said. He also pointed to banditry and the farmer-herder conflicts as additional factors contributing to reduced cattle production.

Kazeem warned that the ongoing decline in cattle slaughter may lead to a shortage of meat in the state and urged collaboration between the government, butchers, and farmers to address the issue.