/> Price Of Rice Will Fall By November ” – Federal Government Says. | Welcome to praizeblog
 


The Federal Government has declared thatthe price of rice would start to fall from
November this year. Minister of Agriculture
and Rural Development, Chief Audu Ogbeh, said this in Abuja yesterday while addressing members of the Senate Committee on Agriculture and Rural Development.

According to him, more Nigerians have returned to their various farms and by the next harvesting season next month, the price of rice would start to crash.

Ogbeh who also stressed that his ministry would not encourage rice importation because it would be detrimental to local production said: “We will not encourage rice

importation and there is no way
our ministry or government can
be involved in importing rice
when we are working hard to be
self-sufficient in local production.
By November when the full-scale
harvest starts, rice prices will
fall,” the minister said.

Early last month, the government had
warned that the price of rice might hit
N40,000 a bag. It is currently being sold
around N20,000.
The Minister of State for Agriculture and
Rural Development, Senator Heineken
Lokpobiri, had said that the $22bn annual
food import bill had led to the astronomical
rise in the price of rice and other
commodities.
He stressed that if Nigerians failed to
produce some of the items being imported
before December, the price of rice could
skyrocket to N40,000 a bag.

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