The Minister of Agriculture and Rural Development, Alhaji Muhammad Nanono, has said that any rice producer selling a 50kg bag of rice above N15,000 is unpatriotic.
Nanono said that since the cost of production was no more than N10,500 per bag, it was exploitative for any producer to sell at N17,000 0r N18,000.
A statement from the ministry quoted the minister as stating this during a working visit to rice farms and mills of Stallion Group Popular Farms and Mills Limited.
“I see no reason why a 50kg bag of rice should be sold for N17,000. The same paddy rice is sold at N8,500 and maximum processing expense is N2,000, making a total of N10,500. It is unpatriotic to sell a bag more than N14,000 to N 15000,” the minister said.
Nanono noted that border closure has resulted in higher production for local rice milling plants and that this would drastically reduce unemployment in the country.
He added that with improved production, Nigerian rice would compete favourably in the global market once the country begins exportation of the commodity.
The minister vowed to convene, through the ministry, a forum for relevant stakeholders in the rice sub-sector to dialogue on how to improve on rice seedlings, among issues.
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