Some farmers’ associations in Lagos State have predicted a further drop in the price of rice ahead of the yuletide following Governor Babajide Sanwo-Olu’s reduction of the price of Lagos rice.
The farmers made this known in separate interviews with the News Agency of Nigeria (NAN) on Sunday in Lagos.
NAN reports that the Lagos State Governor recently slashed the price of Lagos Rice from ₦64,000 to ₦57,000 per bag.
The Vice-Chairman of the All Farmers Association, Southwest and Lagos State chapter, Mr Sakin Agbayewa, commended the state government for the strategic move.
Agbayewa said the development would likely drive competition in the sector, further lowering the commodity’s price.
“The Lagos State Government pegging the price of a bag of rice at ₦57,000 is a good development.
“And hopefully, we want to believe that with this competitive price and competition, maybe in one week or two weeks, the price of rice will further drop.
“Presently, the price of foreign rice is between ₦52,000 and ₦56,000, and that depends on where you are buying it.
“If you are buying it very close to the border, it comes at ₦52,000. If you are buying it from the main market, it sells between ₦54,000 and ₦55,000 per 50kg bag; the extra cost is transportation.
“At ₦57,000 per bag, consumers are eating quality food. From the production to the milling plants, to the processing, to the shelf, market and consumer, you might be looking at one year,” Agbayewa said.
According to him, if you are looking at imported rice that sells between ₦52,000 and ₦56,000, consumers may be buying rice that has been stored for three to five years or even expired.
“So, if you want to look at price and quality, I think the Lagos rice is good at ₦57,000. When you buy Lagos rice, you are looking at food safety, nutritional value, and everything it has to offer at that price.
“It is a good buy. I would prefer the Lagos rice at ₦57,000 rather than buy cheaper rice with lower quality,” he said.
On his part, the Chairman of the Rice Farmers Association of Nigeria, Lagos State chapter, Mr Raphael Hunsa, commended the Lagos State Government for the initiative.
“The government is always on top in terms of policy decisions that affect the people. And the Lagos State Governor, Babajide Sanwo-Olu, dropping rice prices is a great move.
“If production is low, definitely the demand will be high, and subsequently the price will be high too. The Lagos State Government pegging a bag of rice at ₦57,000 this season is most beneficial to Nigerians.
“We, however, urge the government to continue to support rice farmers to increase our production, and subsequently, the price of rice and other staples will continue to drop.
“If we have more rice farmers producing all year round, definitely the price of rice will continue to be stable.
“This Christmas is now at our door, and everyone will celebrate well with this drop in price,” Hunsa said.
