Cattle prices in Lagos have climbed sharply, with traders warning that the cost of cows now exceeds that of some vehicles, putting pressure on both sellers and consumers.
The Lagos State Butchers Association said cows are now selling for as much as N2.5 million (about $1,613), up from around N1.7 million (about $1,097) in 2025. Most prices currently range between N2.3 million and N2.4 million ($1,484 to $1,548), according to the group.
“There was even a time a cow was priced at N2.5 million in the market,” said the association’s Patron, Alhaji Bamidele Kazeem, describing the situation as increasingly unsustainable for traders.
He noted that rising prices have strained meat sellers, with many struggling as demand weakens. “The car I bought in 2020 for N2.1 million is now cheaper than the price of a cow,” he said, pointing to the widening gap between livestock and other assets, according to Business Insider Africa.
Lower-priced cattle have also become scarce. “If you see a cow of N1 million now, you will be surprised. What we complained about last year is child’s play compared to the current prices,” Kazeem added.
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Traders linked the surge to insecurity along livestock routes from northern Nigeria, which has reduced supply to southern markets. Higher fuel and diesel costs have also driven up transportation expenses.
“The supply has reduced because of insecurity in the country and, most recently, the increase in fuel pump price, which has made the cost of transportation skyrocket,” Kazeem said.
He added that delays in local livestock projects have worsened the situation, leaving the market dependent on long-distance supply.
“The local producers are not meeting demand because the feedlots and ranching programme of the state government have not started yet,” he said.
Kazeem called for faster implementation of the Eko Ranching project in Gbodu, Epe, saying it could help stabilize supply and reduce 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.
What this means for Africa
This situation shows how rising costs and supply challenges can affect food prices in African cities. When transport, fuel, and security issues disrupt supply, it quickly pushes prices up for everyday goods like meat.
It also highlights the importance of local production. Many African countries rely heavily on moving goods over long distances, which increases costs. Investing in local systems like ranching and farming could help stabilise supply, reduce prices, and create jobs.
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Image Credit: Business Insider Africa
