Connect with us
nairametrics
UBA ads

Business News

Price of rice will be N9,000 soon – RIFAN

Rice farmers have given an assurance to the General public that a 50kg bag of rice will sell for N9,000 in three weeks’ time.

Published

on

Rice, RIFAN, Rice will be abundant this Christmas, RFAN says

Rice farmers have given the general public an assurance that a 50kg bag of rice will sell for N9,000 in three weeks’ time, after recording a bumper harvest this year. They also promised that more rice would flood the market thereby forcing market prices downward, against the continual hoarding that raised the price to about N26,000.

Aminu Goronyo, the President, Rice Farmers Association of Nigeria (RIFAN), confirmed this development, saying, “We have a bumper harvest that we never had before. We have never had the type of bumper harvests that we recorded this year.”

UBA ADS

[READ ALSO: Scarcity of imported rice hits major markets, as dealers pack local rice in foreign bags]

The Details: He expressed his unhappiness at the actions of unscrupulous middlemen who used the border closure to create widespread scarcity for selfish reasons. He also promised that the increase in the prices of rice will no longer persist.

There are enemies of this country who buy and store this commodity just because they want to create artificial scarcity. But let me tell you, our harvest is coming up in the next two to three weeks, and the paddy coming to the mills, our millers cannot even mill it.

GTBank 728 x 90

No matter who is trying to hoard or create artificial scarcity as seen in certain locations, such persons will be disappointed,” he said.

Rice, RIFAN

Findings by Nairametrics Household Survey showed that various brands of locally made rice witnessed a significant 12.9% increase in price, from an initial average of N18,000 to N19,500. Also, imported rice is now being sold at an average of N26,000.

onebank728 x 90

As a means to stop artificial scarcity and reduce the price of rice, Goronyo said RIFAN members had resolved to stop selling rice paddies to individuals who were not millers.

We’ve noticed that there are people who move into the market to buy paddy rice and who are not even millers. We don’t know where they come from. They are enemies of this country because they just want to put Nigeria in a situation where we have artificially induced rice scarcity.

We are now taking steps to address this by ensuring that no paddy rice buyer will come to the farmers directly and buy unless he identifies himself. There should be a broker who will verify the buyer to know whether he is a miller or not. So that is what we are trying to do now.

app
GTBank 728 x 90

Our promise is that Nigerians will continue to get this commodity at an affordable price and it will be available. And like I said to you, we are still selling at N7,500 per bag of paddy and millers are officially selling at N14,000.

I don’t think the price will go up, rather the only thing we hope is that the price will continue to come down and definitely it will. Some of our millers sell at N12,000 and we hope that Nigerians will buy a 50kg milled rice at between N9,000 and N10,000,” Goronyo added.

Patricia

Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Entertainment

FG approves 60% debt forgiveness for licensed radio and television stations  

The effective date of the debt forgiveness shall be July 10 – October 6, 2020. 

Published

on

FG reiterates commitment to implement reform of broadcasting code , Economy: FG restates commitment to border closure, FG releases new broadcast media regulation to affect DStv’s monopoly 

The Nigerian government granted a 60% debt forgiveness to all licensees indebted to the National Broadcasting Commission (NBC). The move was an additional step to the 2 months license fee waiver granted to the industry as a palliative to deal with the effects of the COVID-19 pandemic. 

Minister of Information, Lai Mohammed, said the measures were put in place as a result of the report submitted by the post-COVID-19 initiative committee for the creative industry. 

UBA ADS

He added that many radio and television stations remain indebted to the government to the tune of N7.8 billion. 

The Minister added that the debt forgiveness will not apply to pay-TV service operators but to only terrestrial TV and radio stations in the country.

GTBank 728 x 90

He added that the criterion for enjoying the debt forgiveness is for the debtor to pay 40% of their existing debt within 3 months. Any station that is unable to pay the 40% indebtedness within 3 months window shall forfeit the opportunity. 

Existing license fee is discounted by 30% for all open terrestrial radio and television services effective July 10. 

The effective date of the debt forgiveness shall be July 10 – October 6, 2020. 

onebank728 x 90

Patricia
Continue Reading

Coronavirus

Covid-19: Scientists ask WHO to revise recommendations as new evidence emerges 

Researchers plan to publish in a scientific journal next week, an open letter to WHO.

Published

on

coronavirus, COVID-19: Infections rise to 42 as 2 new cases are confirmed, COVID-19: Western diplomats warn of disease explosion, poor handling by government

Hundreds of scientists have asked the World Health Organization (WHO) to revise its recommendation for the novel coronavirus pandemic, after they discovered new evidence suggesting that air-borne smaller particles of the virus can infect people. 

The WHO had disclosed that the coronavirus disease spreads primarily from person to person through small droplets from the nose or mouth, which are discharged when a person with the coronavirus disease coughs, sneezes or speaks. 

UBA ADS

According to the scientists whether the virus is carried by large droplets that zoom through the air after a sneeze or by much smaller exhaled droplets that may move quietly through the length of a room, the coronavirus is borne through air and can infect people when inhaled. 

Researchers plan to publish in a scientific journal next week, an open letter to WHO by 239 scientists in 32 countries, where they outlined the evidence showing that smaller particles can infect people. 

However, the United Nations health agency has said that the report from the scientists that the virus is airborne was not convincing.  

GTBank 728 x 90

According to the WHO technical lead for Infection Prevention and Control, Dr Benedetta Allegranzi, ‘’Especially in the last couple of months, we have been stating several times that we consider airborne transmission as possible but certainly not supported by solid or even clear evidence.”  

It can be recalled that WHO said over the weekend that it was stopping its trials of the malaria drug hydroxychloroquine and combination HIV drug lopinavir/ritonavir on hospitalized patients with the coronavirus disease after they failed to reduce the death rate. 

The setback came as the WHO reported more than 200,000 new cases of the disease globally, the first time in a single day. 

onebank728 x 90

 

Patricia
Continue Reading

Coronavirus

FCMB shuts contact centre locations due to COVID-19 scare

Other banks have recently had to shut down their branches due to public health concerns caused by COVID-19.

Published

on

FCMB contact centre

First City Monument Bank (FCMB) Limited informed its customers, yesterday, that its contact centre locations have all been temporarily shut down following COVID-19 scare.

A brief statement that was issued via Twitter emphasised that the general shutdown of the physical locations is only a temporary and precautionary measure aimed at preventing further spread of the contagious virus. The statement, however, did not clarify whether there have been any reported cases of infection at these contact centre locations.

UBA ADS

“Dear Customers, we trust you are doing well and staying safe. We would like to inform you about the temporary closure of one of our Contact Centre locations as a precautionary measure to curtail the spread of COVID-19 and protect our employees,” part of the statement said.

Meanwhile, customers were informed that FCMB’s contact centres will remain active in the meantime, albeit virtually. However, customers may experience delays prior to being attended to. Customers were also advised to explore the self-help options offered by the bank’s electronic banking channels in order to resolve their challenges.

GTBank 728 x 90

Nairametrics understands that some of the bank’s customers have been experiencing some ‘not so great’ customer service over the past few weeks. One of these customers, who chose not to be named, confirmed this to Nairametrics. Reacting to the statement by the bank, the customer said:

“This statement explains why the bank has not been responding to complaints across all its channels. For at least 4 weeks now, they don’t respond to emails, WhatsApp messages or DMs. I have some funds that they have not reversed in like 4 weeks now. If you check Twitter, you will see so many similar complaints.”

Recall that some other banks have had to close down their branches due to the same reason given by FCMB. Just recently, Jaiz Bank Plc shut down its Ikeja branch for disinfection. Weeks before that, Wema Bank also confirmed that two of its branches were temporarily shut down after two staff became infected with the virus.

onebank728 x 90

Patricia
Continue Reading