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Rice To Depreciate In Price This November

Bags-of-Rice

The Federal Government has revealed that the price of rice would start to fall from November this year as they plan to boycott importation of rice.

Speaking at a meeting with members of the Senate Committee on Agriculture & Rural Development on Monday, Oct. 10, the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, said:

‘We will not encourage rice importation and there is no way our ministry or government can be involved in importing rice when we are working hard to be self-sufficient in local production. By November when the full-scale harvest starts, rice prices will fall.’ Meanwhile, early last month, the government had warned that the price of rice might hit N40,000 a bag. It is currently being sold around N20,000


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