By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Thursday, 9 Jul 2026
  • HomePage
  • History
  • My Feed
  • My Interests
  • My Saves
  • Newsletter Page
Subscribe
News247 Nigeria
  • Home
  • News
    • Analysis
    • Breaking News
    • Africa News
    • Crime News
    • Heath News
    • Healthy Living
    • Security News
    • World News
  • Business
  • Politics
  • Feature
  • Opinion
    • Editorial
    • Column
  • Entertainment
    • Lifestyle
  • Sports
  • 🔥
  • News
  • Politics News
  • National News
  • Crime News
  • Sports News
  • Business News
  • Sports News
  • Politics
  • Crime News
  • Politics News
Font ResizerAa
News247 NigeriaNews247 Nigeria
  • HomePage
  • History
  • My Feed
  • My Interests
  • My Saves
  • Newsletter Page
Search
  • Home
  • News
    • Analysis
    • Breaking News
    • Africa News
    • Crime News
    • Heath News
    • Healthy Living
    • Security News
    • World News
  • Business
  • Politics
  • Feature
  • Opinion
    • Editorial
    • Column
  • Entertainment
    • Lifestyle
  • Sports
Have an existing account? Sign In
Follow US
© 2026 News247ng Nigeria - All Rights Reserved | Designed by AuspiceWeb
News247 Nigeria > Blog > Business News > Soaring Ram Prices Dampen Eid Al Adha Joy Across Nigeria
Business News

Soaring Ram Prices Dampen Eid Al Adha Joy Across Nigeria

Editor
Last updated: May 25, 2026 1:26 pm
Editor
68 Views
4 Min Read
Share
Ram market
SHARE

LAGOS — As Eid Al Adha approaches, millions of Nigerian families are confronting an uncomfortable reality: the cost of sacrificial rams has risen sharply, putting the traditional celebration out of reach for many. Traders and livestock dealers across Lagos, Abuja, Kano, and other major cities confirmed that prices have increased significantly compared to last year.

In Lagos markets, small to medium-sized rams are selling for between N200,000 and N450,000. Larger animals command prices of N600,000 and above. In previous years, families in the same income bracket could purchase comparable animals for significantly less. The increases reflect broader inflationary pressures in Nigeria’s economy.

A livestock trader at Mile 12 Market in Lagos, Alhaji Musa Abubakar, said the price rise stems from multiple factors. “Transportation has become very expensive. Security challenges in herding routes add to the cost. And general food inflation means the cost of feeding the animals has gone up. Everything has increased,” Abubakar said.

READ ALSO:
  • Nigeria and China Eye Creative Economy as New Bilateral Frontier
  • CBN's Payment Vision 2028 Targets 50 Million New Bank Accounts
  • CBN Issues New Forex Rules, Allows Individuals to Move Up to $50,000 Cash

Many families said they are being forced to make difficult choices. Some plan to purchase smaller animals than they originally intended. Others are pooling resources with extended family members to buy a single animal collectively. A growing number say they will skip the ram purchase entirely this year.

The Economic Pressure Behind the Numbers

Nigeria’s consumer price inflation, though easing from its 2025 peak, remains elevated. Food inflation has been particularly stubborn, driven by security disruptions to farming, high transportation costs, and the lingering effects of the naira’s weakness in 2025. Livestock prices are directly affected by all three factors.

READ ALSO:
  • CBN Launches Payments System Vision 2028 for Digital Economy
  • Energy Activist Oye Slams FG Celebration Despite NNPC N30trn Debt
  • Nigerian Bourse Ends Week Lower as Profit-Taking Erases Early Gains

In addition, insecurity in northwest Nigeria has disrupted traditional herding routes that bring cattle and sheep from the north to southern markets. Bandits and terrorists routinely target herders, making it dangerous and expensive to move animals long distances. This has reduced the supply of livestock reaching urban markets, pushing prices higher.

Furthermore, the depreciation of the naira against the dollar has raised the cost of veterinary drugs and animal feed ingredients that are imported. Even domestically produced feed has become more expensive as farmers face higher input costs across the board.

Appeals for Generosity

Islamic scholars and clerics across Nigeria have responded to the price crisis by reminding Muslims that the Eid Al Adha sacrifice is not compulsory for those who cannot afford it. They said the spirit of the celebration is in gratitude, charity, and community, not in the price of the animal.

The Sultan of Sokoto also called on wealthier Nigerians to share their Sallah provisions with neighbours and community members who are struggling. He said the values of generosity and solidarity are at the heart of Eid Al Adha and should be expressed through concrete acts of sharing.

Market analysts say ram prices are unlikely to fall before the celebration. Sellers know that many families will ultimately pay the higher prices rather than forgo the tradition entirely. This pricing power means that even as some buyers step back, the overall market remains active enough to sustain elevated price levels through the holiday.

Share this:

  • Share on Facebook (Opens in new window) Facebook
  • Share on X (Opens in new window) X
  • Share on LinkedIn (Opens in new window) LinkedIn
  • Share on Telegram (Opens in new window) Telegram
  • Share on Threads (Opens in new window) Threads
  • Share on WhatsApp (Opens in new window) WhatsApp

Like this:

Like Loading…

Related


Discover more from News247 Nigeria

Subscribe to get the latest posts sent to your email.

TAGGED:Business NewsEid Al AdhaNigeria EconomyRam PricesSallah 2026
Share This Article
Email Copy Link Print
Previous Article Nigerian Banks Flag 82,000 Suspicious Transactions in 2024
Next Article APC Clears 432 Chairmanship Aspirants for Lagos LG Polls

Your Trusted Source for Accurate and Timely Updates!

Our commitment to accuracy, impartiality, and delivering breaking news as it happens has earned us the trust of a vast audience. Stay ahead with real-time updates on the latest events, trends.
FacebookLike
XFollow
InstagramFollow
LinkedInFollow
MediumFollow
QuoraFollow
- Advertisement -
Ad image

You Might Also Like

Business NewsNews

Naira Slips to N1,395 in Parallel Market on Demand Pressure

By Editor
Business News

FAAC Shares N2.3Trn May Revenue as Statutory Earnings Rise

By Editor
Business News

Tony Elumelu Steps Down as UBA Group Chairman After 12 Years on August 21

By Publisher
Lifestyle

Eid al-Adha 2026: Barka da Sallah as Nigeria Celebrates in Style

By Editor
News247 Nigeria
Facebook Twitter Youtube Linkedin Rss

About US

News247NG is a Nigerian digital news platform delivering fast, credible and up-to-date reports on politics, business, technology, entertainment, sports and world events. Our goal is to keep readers informed 24/7 with accurate and responsible journalism.
Information Pages
  • ABOUT US
  • CONTACT US
  • TERMS OF USE
  • PRIVACY POLICY
  • COOKIE POLICY
  • DISCLAIMER
  • DMCA / COPYRIGHT
Useful Links
  • HomePage
  • History
  • My Feed
  • My Interests
  • My Saves
  • Newsletter Page

© News247ng Nigeria. AuspiceWeb Design. All Rights Reserved.

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

%d