The CEO of SITOG Farm, Mrs. Grace Ajayi has attributed the poor power supply and inflation to why she stopped the livestock business.
She disclosed this in an interview with newsmen in Lagos while speaking about why she stopped buying livestock to sell for the people.
According to him, two factors affected businesses. One is epileptic power supply and inflation. For instance, the last cow I bought was sold for N450,000. When you kill and sell to people, they will complain is too small. This is not ideal at all.
Ajayi maintained that she lost N100,000 from January to March consecutively on the business, saying she should keep her money than waste it.
“It is better I keep my money than lose it to an unprofitable business. I lost N300.000 in three months. This is not ideal at all”, she said.
When asked what contributed to the inflation or scarcity of livestock, she said, ” I can’t say specifically. It might be that they are no more bringing it from the North to Lagos or the incessant insecurity in the Northern part of the country”, she said.
The SITOG CEO stressed that the people that are into the businesses of livestock have joined other professions such as teaching etc.
“I know of a man that sells cow who now an okada rider. Also, another woman who my husband knows has left the livestock business to teach. The woman lamented that she lost a huge amount of money which made her stop”, she said.
Ajayi added, “When you want to sell it according to what you are buying people complain that is too small”.
She, therefore, called on the Federal government to ensure improvement in the power supply and also address incessant killings in the northern part of Nigeria.
“We need government intervention to pump more money into Agriculture and protect the lives of farmers*, she said.
It would be recalled that the country has been experiencing an unstable power coupled with inflation which makes the price of goods and services skyrocket in the market.
