FG, stakeholders map out strategies to bring down price of rice

The Federal Government (FG), Rice Association of Nigeria (RIFAN), the Rice Processors Association of Nigeria (RIPAN) and rice distributor has concluded arrangement to bring down the price of local rice in the market.
The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, who disclosed this yesterday when he met with stakeholders in the rice Industry, revealed that the government is ready to provide fund to assist stakeholders in the rice value chains to enable them bring down the price.
Ogbeh said the government has set aside funds for farmers, millers and marketers to bring down the price of rice.
“We have been discussing the modalities to put in place to make sure that local rice sells much cheaper and that the prices can fall to the levels of foreign rice and eventually, below the levels of foreign rice.
Every country in the world supports agriculture whether they call it subsidy or support, it is exactly the same thing.
“We are happy that the CBN has agreed to bring down interest rates on agric and manufacturing to one digit.
We applaud that decision but at the level of FMARD and BOA, we have set up a fund which we intend to manage to support both the farmers, millers and marketers to bring down the price of rice because we are concerned about the cost of rice for the Nigerian family.
We want our people to feed well and feed cheaply but these things have to be managed carefully because we are dealing with public funds,” he said.
He stated further that in a forth night the Ministry in two weeks will meet with BOA and the millers to strategise on how to support rice millers in order to lower prices as Christmas approaches.
“So in two weeks time, a letter will be sent to you by the director agribiz and also talk with the CBN but be sure that we want you to succeed, to be rich, to make a success like other countries have done but one day, we want foreign rice to be a very rare commodity in this country,” he said.
He lamented the activities of smugglers and promised that decision will be take to put a final solution to the problem.
“We have to produce here and we have to create jobs and while government is trying to stabilise power and putting railways and roads, the private sector and Nigerian as a whole must resolve that we cannot survive as a country if these things doesn’t end early enough, where are the jobs for our children and we ask the media, please take on these words, it is about you.
“We will bear your suggestions in mind and when the BOA is finally privatised, 30% of the shares would be reserved for farmers, please buy shares, make it your bank, let it become your bank, let is become the farmers bank then we can discuss interest rates and take control of agriculture because even the 9 percent offered us still has to go down but the bank has to survive

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