The federal government said the price of a 50kg bag of rice in the market must not exceed N15,000.
The Minister of Agriculture and Rural Development, Alhaji Muhammad Nanono, stated this during a working visit to rice farms and mills of Stallion Group Popular Farms and Mills Limited, according to a statement from the ministry.
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Nanono said it was exploitative and smacked of unpatriotism for any rice producer to sell a 50kg bag of rice beyond N15,000.
“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.
He eulogised the border closure saying it helped to improve and develop the local rice production while ameliorating the high rate of unemployment.
