Agribusiness

See where people bought a bag of rice for N12k

Published

5 years ago

October 15, 2019

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It’s no longer news that the price of Rice has risen astronomically. And the Federal Government stiff regulations on foreign brands have triggered the economics of the commodity. As National Daily has earlier reported some rice dealers in major markets across Lagos State are allegedly packing locally manufactured rice into foreign bags, as prices jump higher.

Further observation reveals that the visited markets now have various brands of locally made rice in large stock, although with a significant 12.9% increase in price. A 50kg bag of Caprice and Royal Stallion rice increased by 2.9%, from an average of N25,500 to N26,250. Mama’s Pride rice, a locally grown rice, also increased significantly by 9.7% from an initial average of N18,000 to N19,750.

But back in 2016, to ease burden on residents in the festive season, the Lagos state government made provisions for a 50kg bag of rice to be sold at N12,000.

In a time like this, Lagosians now remember Governor Ambode Akinwunmi.

Then, Twenty-five kg was sold at N6,000, while 10kg went for N2,500.

And people bought from the subsidized traders rather than spend as high as N18,000 on a bag of rice.

Here are the designated zones where they Lagosians got the special offer, as an initiative of Lagos and Kebbi governments.

REGION LOCATION

Ikorodu Odogunyan Farm Service Centre

Epe Temu Farm Service Centre

Eredo Noforija Town Hall

Ibeju Magbon Alade High School