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Izy OKU
2 weeks ago
Overview
How insecurity, middlemen drive up rice prices, force mill shutdowns
Despite the federal government’s acclaimed increase in local production and recent investments to optimise rice mills in some states, the local production dependency target has continued to be a mirage.
With her position as Africa’s top rice producer and one of the world’s leading producers, only slightly more than half of the rice consumed in Nigeria is produced locally, resulting in a supply deficit of approximately three million metric tonnes.
Currently, the price of local rice has increased tremendously, even beyond the reach of average Nigerians, with the majority preferring foreign alternatives, which are not only more affordable, but mostly of good quality, better processed and packaged.
A local bowl (Olodo) of Ofada rice, previously sold for N13,000 as of last year July at the Ofada Rice Market, Wasimi, Ogun State, currently sells for N21,000 and above in open markets. In stalls, The Guardian market survey shows that a 50kg bag of rice sells between N80,000 and N120,000, depending on the brand.
https://guardian.ng/news/how-insecurity-middlemen-drive-up-rice-prices-force-mill-shutdowns/
