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Lagos Slashes Rice Price To N57,000; Farmers Predict Further Drop.
According to industry sources, farmers in Lagos State have predicted a potential further reduction in rice prices ahead of the yuletide season, following Governor Babajide Sanwo-Olu’s recent price adjustment.....KINDLY READ THE FULL STORY HERE▶
The Lagos State Governor recently lowered the price of Lagos rice from N64,000 to N57,000 per 50 kg bag, a move that has been welcomed by farmers’ associations across the state.
Mr. Sakin Agbayewa, Vice Chairman of the All Farmers Association Southwest, Lagos State chapter, described the initiative as a strategic decision that could stimulate competition in the rice market, potentially driving prices even lower. “The Lagos State Government pegging the price of a bag of rice at N57,000 is a positive step. With increased competition, we expect prices could decrease further within the next week or two,” Agbayewa said.
He noted that while foreign rice is currently priced between N52,000 and N56,000 per bag, much of it may have been stored for several years, raising concerns about quality and safety. “At N57,000 per bag, Lagos rice ensures consumers access to fresh, safe, and nutritionally rich food. It is a better value than cheaper, older imported rice,” Agbayewa added.
Mr. Raphael Hunsa, Chairman of the Rice Farmers Association of Nigeria, Lagos State chapter, also praised the government’s initiative. He emphasized that government support for local rice production is crucial to sustaining price stability. “If more rice farmers produce consistently throughout the year, prices of rice and other staples will remain stable. This festive season, Lagos residents can celebrate with the benefits of this price reduction,” Hunsa said.
The move is seen as both a relief for consumers and a boost for local rice farmers, enhancing food security and encouraging wider consumption of locally produced rice.
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Don’t Burn Tyres On New Roads — FERMA Begs Abia Residents.
The Federal Road Maintenance Agency (FERMA) has appealed to residents of Abia State and other road users along the Aba–Azumini highway to protect the newly completed road from activities that could damage it.....KINDLY READ THE FULL STORY HERE▶
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Correctional Service Declares Escaped Yobe Inmate Wanted Nationwide.
The Nigerian Correctional Service (NCS), Yobe State Command, has declared a 30-year-old inmate wanted after he escaped following a road accident involving a prison transport vehicle.....KINDLY READ THE FULL STORY HERE▶
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Court Orders UI To Reinstate Students Suspended Over Fee Hike Protest.
The Federal High Court sitting in Ibadan, Oyo State, has ordered the University of Ibadan (UI) to reinstate three students suspended over their participation in a protest against tuition fee hikes.....KINDLY READ THE FULL STORY HERE▶
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