IMPACT OF NAIRA REDESIGN ON BROILER PRODUCTION IN KUMBOTSO LOCAL GOVERNMENT AREA OF KANO STATE, NIGERIA

The naira redesign policy introduced by the Central Bank of Nigeria in 2023 was aimed at reducing currency hoarding, controlling inflation, and promoting a cashless economy. However, the policy led to a severe cash shortage that disrupted economic activities across various sectors, including agriculture and poultry production. This study examines the impact of the naira redesign on broiler production in Kumbotso Local Government Area of Kano State, Nigeria. A combination of primary and secondary data was employed for the study. Primary data were collected through structured questionnaires administered to broiler farmers, while secondary data were obtained from relevant literature and reports. Descriptive statistics and analytical tools were used to assess the effects of the policy on production, input procurement, sales, and overall profitability. Findings revealed that the naira redesign policy had significant negative effects on broiler production. The cash scarcity limited farmers’ ability to purchase essential inputs such as feed, vaccines, and day-old chicks, leading to reduced production levels. In addition, poor access to cash affected market transactions, resulting in decreased sales and financial losses. Similar challenges have been reported among small and medium enterprises, where reduced cash availability led to declining business activities and economic slowdown. Poultry farmers in Nigeria were particularly affected, with industry reports indicating substantial losses due to inability to sell products and procure inputs during the cash crunch. The study concludes that the naira redesign policy adversely affected broiler production in the study area by disrupting production cycles and reducing farmers’ income. It recommends that policymakers ensure better implementation strategies, improve access to digital financial systems in rural areas, and provide support mechanisms for farmers during major economic policy transitions.