Nigerians will need to pull themselves to another round of deprivation, given the growing price of rice, considered the staple food for households in the country.
Based on the analysis of industry analysts, he assuredly gathered that the price could increase in a few weeks and could continue until December or beyond unless urgent measures were taken to solve the problems.
Currently, 50 kg of steamed rice, originally sold between N12, 000 and N12, 500, has grown to N13, 000 and N14, 500, depending on the area over the past two weeks.
This not only led to a panic of buying and accumulating, he also added to the stress of already distraught Nigerians, as the price gradually takes the goods beyond their reach.
This was confirmed by the release of several bags of Lake Rice, the penultimate week of the Lagos state government at designated outlets; markets of high markets, super markets, open markets and stores in large quantities throughout the state to mitigate the effect of higher prices.
According to the State Commissioner for Agriculture, Mr. Oluvatoyin Soarau, in a statement: "The attention of the state government has been attracted to the rapid price of other rice brands in the market and as such, the government needs to ensure year-round availability of rice for the inhabitants of the lake at affordable prices."
In defeating the federal government's large-scale success in achieving a 90 percent reduction in rice imports, it was found that rice imports had not been reduced by 90 percent, since 80 percent of locally consumed food was still imported, as smugglers became military leaders under the direct nose of government officials.
According to the statement of the federal government, the current yield per hectare of rice increased from 2.5 million tons in 2005; 3.5 tons in 2010 to 5.5 tons in 2018.
Contrary to the government's claims, the country's import bills continue to grow every day, thereby reducing the amount of foreign reserves.
The country is the largest producer of rice in West Africa, and at the same time it is the world's second largest importer of rice in the world as of 2017, resulting in an average import bill for imports of rice N1b.
According to imports from the global trading portal Index Mundi, the country imported 5.6 million tons of rice from 2017 to the present at a global price of 410 dollars, which is 2.29 million dollars. USA.
This contradicts the requirements of the Bank of Agriculture (BOA) that Nigeria saved $ 800 million from rice imports.
Experts in the rice industry explain this by several factors: low productivity, which causes a shortage in the market; ban on the import of rice; inaccessibility of local rice as an alternative; and the scarcity of rice rice.
The managing director / CEO of Bama Farms, Prince Wale Oyekoy, said he was not surprised at the sudden sharp price increase, said development was expected due to the government's insincerity regarding the state of the country's economy.
"Our economy is struggling with a low level of food production, especially with the carbonate sector of Agric products, which the government is actively promoting, such as rice and cassava.
The production is so low that it causes a shortage in the market and a rise in prices. The ban on rice imports is another factor that raises the price, because smugglers have a field day with the Nigerian customs service.
"Scale economy is effective here, when the product is very scarce and the demand is high, thereby causing the price to rise.
The price will continue to increase, especially with the approach of Christmas. We will continue to increase the prices of basic foodstuffs until the central government can implement a people-centered policy, rather than a self-serving policy that increases the number of their bank accounts. "
The Chairman of the Rice Farmers Association of Nigeria (RIFAN), the head of state Kebbi, Muhammad Ogi, who said that the rice rice deficit hit the market, said that the inability of rice processors to get paddy is the main reason for the price increase.
"This is a bad period when the supply from the market is declining, due to the fact that the harvest season is still far away, which causes the current price increase."
The local rice that was supposed to serve, since the alternatives are currently not as much in circulation as expected, and some of them on the market are expensive, more than imported rice.
For example, 50 kg of a local rice bag in the state of Kebbi was N15, 000, compared to the imported type, which was around N12, 500.
For those who buy retail, the measure that was the N300 is now the N350.
In the southwest, the measure of the rice of Ofada, which contains about 12 savages, is currently N4 000, compared to N3, 100, the value of the imported type.
The same goes for the local rice from Asaba, Ebony and the like, initially in order to destroy the market.
Adekoya, who was chairman of the agricultural sector of the Chamber of Commerce and Industry of Lagos (LCCI), scolded the government for lack of opportunities.
"Production will improve if the government introduces a policy that will help the masses, not elites or bondage.
The government does not engage in business in agriculture, but instead it should provide an enabling and supportive environment for farmers to do business.
"Our government is a problem of our economic problems, when they want to be responsible for everything, and in the process of getting confused and inappropriate to use our means.
Imports did not decrease by 90 percent, because 80 percent of the food we consume in the country is still imported, where smugglers have become field commanders under the direct nose of government officials.
"The only solution to prevent more food crises is to allow three levels of government to do more in deploying an enabling environment for farmers to strive for and survive, thereby increasing the production of our farms and providing sufficient storage facilities, providing preferential concessional loans with a low interest rate with a sufficient moratorium to pay for and use the debt of farm assets instead of draconian demand for on the part of farmers to obtain loans, "he said.