Eid al-Adha: Inflation Pushes Sheep Prices to Record Highs Across Nigeria

As Eid al-Adha approaches, livestock markets across Nigeria are experiencing sharp price increases and slower-than-expected sales, with traders and buyers blaming inflation, insecurity, and rising fuel costs for the strain.

At Kara Market, a major livestock hub along the Lagos–Ogun border, thousands of sheep brought in from northern Nigeria are on display ahead of the festive season. However, traders say buyer turnout has been weaker than usual, even as demand for sacrificial animals typically peaks during this period.

Sheep prices have surged significantly this year, ranging from about ₦250,000 to as high as ₦1.2 million depending on size and quality. Traders note that these figures represent a sharp increase compared to last year, when similar animals sold for much lower prices.

Several livestock sellers attribute the price hikes to multiple pressures, including rising insecurity in parts of the country, transportation difficulties, and additional informal fees along transport routes. Others point to higher fuel costs, which have increased the expense of moving animals over long distances from northern Nigeria to southern markets.

Buyers at the market say the cost of livestock is becoming increasingly unaffordable. Some report having to settle for smaller animals or lower-cost alternatives, while others say they may reduce spending on Eid celebrations altogether due to financial constraints.

Transporters also report rising operational costs, with some journeys now costing several times more than in previous years. These increases are being passed down the supply chain, further pushing up retail prices in the market.

Security concerns have also added to market tensions, with some traders expressing fears about travelling with livestock due to sporadic attacks in certain regions. In addition, checkpoint fees and informal levies along transport routes are reportedly adding to overall costs.

Despite the challenges, shoppers continue to visit markets in search of affordable options, but many leave without making purchases.

As Eid approaches, both traders and consumers are adjusting expectations, with many acknowledging that this year’s celebrations may be significantly more expensive than in previous years.

• Tweet
• Share
• Share
• Share
• Share