Business Hilights
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Lagos Rice may finally sell for N21,000 on the streets, market

Though signals have emerged from the Lagos State government that it may sell its special rice at N13,000 per 50kg bag for the Xmas and New Year celebrations, investigations have shown that the said price is only for bulk buyers and not end users.

Besides, the rice will only be sold at Local Government headquarters on presentation of Resident ID card and Tax clearance which many Lagos residents may not be able to produce within this yuletide after all.

The government had said it would roll out Lake Rice on December 15, 2016 to Lagosians at fixed price of N13,000, but findings show that none of the distributors who had paid and wangled through his nose to get included as a distributor may be ready to sell for N13,000 but from N21,000.

Already, whereas smuggled and incomplete 50kg of foreign rice sell for about N19,000 in Lagos, full and Lagos ports imported rice sell between N21,000 and N24,000 in Lagos now.

Business Hilights recalls that Special Adviser on Food Security to Governor, Mr. Sanni Okanlawan, made the disclosure in Lagos during the Lagos Chamber of Commerce and Industry (LCCI) National Agriculture Stakeholders Summit last week.

Okanlawan said that sales of the rice would be made at all the 57 Local Government Areas (LGAs) and Local Council Development Areas (LCDAs) in the state to ensure proper distribution.

According to him, “Lake Rice is the acronym of both Lagos and Kebbi States joint product which will be out to the public on Dec. 15 at the rate of N13,000 per 50kg bag as it is already subsidised by the government.

“To make it more available, the rice will be sold at the 57 LGAs and LCDAs for easy accessibility and to guard against unwanted persons diverting the product.

“The state government has put in place a committee that will ensure that Lagosians have the best Christmas celebration, that is why we are offering the wholesome and well packaged rice,’’ Okanlawan said.

The special adviser also said that the state had established a Department of Agribusiness, an Agriculture Trust Fund and Commodity Exchange Market to be set up soon.