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Nairametrics
Home Business News Business

Lagos to commence sales of rice at lower prices before Christmas

Chike Olisah by Chike Olisah
December 14, 2020
in Business, Spotlight
Lagos State begins recruitment for Agripreneurship programme, Sanwo-Olu confirms Abisola Olusanya as new Agriculture commissioner
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The Lagos State Government, in collaboration with Kebbi State Government and the Central Bank of Nigeria (CBN), has said that it will commence the sales of rice to residents before the Christmas celebration.

According to a report from News Agency of Nigeria, this was disclosed by the Lagos State Commissioner for Agriculture, Ms Abisola Olusanya, while speaking to newsmen on Monday in Lagos about the 100,000 50 kg bags of rice that were being expected to be sold at N20,000 per bag.

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While pointing out that the Lagos state government was working very hard with its Kebbi state counterpart and the Federal Government to ensure that Lagosians have enough rice during the festive season, Olusanya said the delay in the sale of the bags of rice was due to the process of production.

READ: Lagos says 2020 land use charge law is people friendly, introduces self-billing method

What the commissioner is saying

The commissioner said, “We are intervening in the area of availability of rice for the festive season, and it will be sold at N20,000 per bag. The most important thing is that we have rice available, be it Lake Rice or other brands.’’

READ: Lagos State launches N5 billion post-COVID-19 economic recovery support for MSMEs

“During the festive season, millets have to be polished, mill and processed before rice will be available. It’s not that rice is not available in the market, but the price points are a bit high. The intervention of the Lagos State Government under the leadership of Mr Babjide Sanwo-Olu, in collaboration with the Federal Government, through CBN and the Governor of Kebbi, is to ensure that we have rice available at lower price points.’’

“Don’t forget that they are in the harvest season now for paddy, so this is the best time to get good quality rice. The rice has started arriving as at last week, and we are expecting much more in the next couple of days,” she said.

READ: Gombe and Kebbi Airports close for business over N732m debts

What you should know

  • It can be recalled that about 4 years, the Lagos state government in collaboration with the Kebbi state government launched the Lagos-Kebbi rice, which is called LAKE Rice, which was to ensure food security and showcase the ability of Nigeria to become a rice production country rather than an importing one.
  • The rice which is safe for consumption is expected to be sold at a highly reduced price, compared to what obtains in the market.
  • If well implemented, this will come as a huge relief to Lagos residents who have to deal with the ever-increasing cost of food items, especially on festive occasions.

READ: Floods destroy over 25% of Nigeria’s rice harvests


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Tags: Central Bank of NigeriaChristmasNigeria NewsRice
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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