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Tuesday 11 October 2016

Rice Price will Fall by November - Federal Government Breaks Good News

The woes of rising price of rice in Nigeria since the ban placed on importation by the Federal Government may be coming to an end soon.The Federal Government on Monday declared that the price of rice would start to fall from November this year as Nigerians boost local production.
This is coming as good news to Nigerians who have endured the hardship of inflation since the administration of President Muhammadu Buhari.

It stated that more Nigerians had returned to their various farms, adding that at the next harvesting season next month, the price of rice would start to crash. This came as the government said that the delay in the approval of the 2016 budget had made it impossible to implement the capital expenditure in the agricultural sector.

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, said this while addressing members of the Senate Committee on Agriculture and Rural Development at the headquarters of the ministry in Abuja according to the Punch.

Ogbeh, who stated that the government could not be involved in the importation of rice as speculated in some quarters, stressed that his ministry would not encourage rice importation because it would be detrimental to local production.

He said the Federal Government was against rice smuggling and noted that the Seme border had become a notorious route for the smuggling of contraband products into the country.

“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.

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