Mykellio:
We need a revolution.

http://www.premiumtimesng.com/news/headlines/195509-investigation-inside-the-massive-fraud-in-nigerias-n117billion-rice-import-quota-scheme.html?utm_source=&utm_medium=twitter

First, it was petroleum subsidy scam, now it is our rice. How long will Nigerians sell their destiny for a plate of Thai rice? But, wait whose fault is it? Can they thrive if there is no market and appetite for it?

Last year I was in the UAE, stayed in Bur Dubai. I entered a Tesco Franchise store off Al Rolla crescent and picked up a 10kg bag of premium quality rice for 15Dirhams (1Dirham = NGN50). That's NGN750. This implies a 50kg would have cost about NGN3,750.
Now, this is not just about rice. I took a cab, 2015 model Hyundai Elantra to Al Mahktoum, driven by a young man named Hussein. Out of curiosity I asked him how much the car cost. He smiled and answered 55,000Dirhams with 0% interest bank loan and comprehensive 3rd party insurance. That's about NGN2,750,000. But same vehicle at Stallion Group, Nigeria is about NGN4million. So, what is it about?

This is about our greed and abysmal "long-throatedness". The desire to make colossal profit margins without regard to whose detriment is mind-buggling and infernal. So, this is not about whether Nigeria is importing or producing rice. It's just we are greedy and lazy.

All the companies listed in that scam want to make quick and huge money, whereas agribusiness takes patience and requires a long term investment mentality to thrive. The rice value chain in particular is very long. Several processes, so yes, instead of going through all that to refine the quality, they just catapult the funds out to import and then sell at ridiculous prices. But mind you they spend most of their time in such places as I mentioned above, so the price here is not their business. Go and ask Oba Otudeko how much a bag of rice is? If they have their way, a bag of rice will sell at N20,000 and a litre of fuel for N1,000.

Yes, I produce rice. But beyond that, for the sake of the economy, for the sake of our pockets for the sake of several millions of Nigerians that eat rice as just "a Sunday meal". Let's develop Nigeria's rice value chain. And your own contribution to it is by buying it and eating it. The rice the Thai family eat on their table in Bangkok is not international, it is local to them. So, let's stop the negativity attached to the word local.

It has chaff, it has stone, it is colored. Yes. But, with adequate investment, the indigenous quality will attain and can surpass foreign standard. Stone in the rice is not the farmers' fault. Rice is not planted in the air, it grows from the soil. Between harvest and bagging, rice loses over 20% of its weight in form of chaff, husk and other sediments as well as moisture. This is the terrain of capital-intensive investment, which is significantly lacking. The farmer can not be the one to plant and be the one to process at the same time. You cannot be the deceased and be the bereaved at the same time. There are people that view this nairaland everyday. There is somebody who has access to investment. Do you know that with just NGN50million, a major processor can be installed and operated in a strategic rice zone in the country that will service over 500 farmers and turn out over 300,000MT of quality rice per annum. Did I just say just? Yes, because there are people who spend that on just one or two cars, which become obsolete within a couple of months. Rice has no model, yes the varieties but there is no fashion attached to it just the appetite.

Let's wake up and stop our nation from being the global dustbin of everything. From rice, to frozen foods, cars etc. Let's make our nation great. Instead of looking for quick money invest in long term agricultural infrastructure. Every other thing may change, but we will always eat. That's the secret behind the lucrativeness of agriculture. Only that the Thai are using their "loaves of bread to pack our stew", crass exploitation of the highest order.

If 1 million Nigerians buy 1 Derica (small unit that measures 64 times in a 50kg bag) of Nigerian rice for N100 thrice a week. We will succeed in retaining at least NGN300million in the economy per month, and NGN3.6billion per annum that should have escaped as capital flight in importing rice.

Food for thought.

Regards,

Mykellio

Ralphlauren:
The Vaswani brothers. Ripping Nigerians off since 1900.

That family is behind Stallion Group and they've milking nigeria since time immemorial.

The get deported and before you know it, they are back in the country again.

20bc:

you again......

Just keep calm

StrawberryCream:

U aint feeling this stalkish behaivour abi

20bc:

Who de fπck are you......?

lomprico:
Good! I hope d loan extends to the farmers in ebonyi. I saw their "rice hill" sometime last month n was astonished!

Note. The tiny dots at d top are people.



www.nairaland.com/attachments/3074084_img20150709wa000_jpeg7cbcb35c5f93b890a7ce92b4c0df8a1c

IzonOwei:
The fact is the government needs to protect indigenous production of rice..why do I say so..The various cabals that have ensured that rice farming doesn't see the light of day and that importation and sales of rice at exorbitant amounts remains status quo would stop at nothing to kill the plans of others who choose to feed our nation ...nigeria is such a complicated country reason why I say states should be on there own and focus on what they can do to propel nigeria agriculturally and industrially..

Right in bayelsa peremabiri once had the largest rice farm in West Africa. .how that hub of rice farming ended up defunct is amazing...

We need policies that will help us grow indigenously. .

Mykellio:
We need a revolution.

http://www.premiumtimesng.com/news/headlines/195509-investigation-inside-the-massive-fraud-in-nigerias-n117billion-rice-import-quota-scheme.html?utm_source=&utm_medium=twitter

First, it was petroleum subsidy scam, now it is our rice. How long will Nigerians sell their destiny for a plate of Thai rice? But, wait whose fault is it? Can they thrive if there is no market and appetite for it?

Last year I was in the UAE, stayed in Bur Dubai. I entered a Tesco Franchise store off Al Rolla crescent and picked up a 10kg bag of premium quality rice for 15Dirhams (1Dirham = NGN50). That's NGN750. This implies a 50kg would have cost about NGN3,750.
Now, this is not just about rice. I took a cab, 2015 model Hyundai Elantra to Al Mahktoum, driven by a young man named Hussein. Out of curiosity I asked him how much the car cost. He smiled and answered 55,000Dirhams with 0% interest bank loan and comprehensive 3rd party insurance. That's about NGN2,750,000. But same vehicle at Stallion Group, Nigeria is about NGN4million. So, what is it about?

This is about our greed and abysmal "long-throatedness". The desire to make colossal profit margins without regard to whose detriment is mind-buggling and infernal. So, this is not about whether Nigeria is importing or producing rice. It's just we are greedy and lazy.

All the companies listed in that scam want to make quick and huge money, whereas agribusiness takes patience and requires a long term investment mentality to thrive. The rice value chain in particular is very long. Several processes, so yes, instead of going through all that to refine the quality, they just catapult the funds out to import and then sell at ridiculous prices. But mind you they spend most of their time in such places as I mentioned above, so the price here is not their business. Go and ask Oba Otudeko how much a bag of rice is? If they have their way, a bag of rice will sell at N20,000 and a litre of fuel for N1,000.

Yes, I produce rice. But beyond that, for the sake of the economy, for the sake of our pockets for the sake of several millions of Nigerians that eat rice as just "a Sunday meal". Let's develop Nigeria's rice value chain. And your own contribution to it is by buying it and eating it. The rice the Thai family eat on their table in Bangkok is not international, it is local to them. So, let's stop the negativity attached to the word local.

It has chaff, it has stone, it is colored. Yes. But, with adequate investment, the indigenous quality will attain and can surpass foreign standard. Stone in the rice is not the farmers' fault. Rice is not planted in the air, it grows from the soil. Between harvest and bagging, rice loses over 20% of its weight in form of chaff, husk and other sediments as well as moisture. This is the terrain of capital-intensive investment, which is significantly lacking. The farmer can not be the one to plant and be the one to process at the same time. You cannot be the deceased and be the bereaved at the same time. There are people that view this nairaland everyday. There is somebody who has access to investment. Do you know that with just NGN50million, a major processor can be installed and operated in a strategic rice zone in the country that will service over 500 farmers and turn out over 300,000MT of quality rice per annum. Did I just say just? Yes, because there are people who spend that on just one or two cars, which become obsolete within a couple of months. Rice has no model, yes the varieties but there is no fashion attached to it just the appetite.

Let's wake up and stop our nation from being the global dustbin of everything. From rice, to frozen foods, cars etc. Let's make our nation great. Instead of looking for quick money invest in long term agricultural infrastructure. Every other thing may change, but we will always eat. That's the secret behind the lucrativeness of agriculture. Only that the Thai are using their "loaves of bread to pack our stew", crass exploitation of the highest order.

If 1 million Nigerians buy 1 Derica (small unit that measures 64 times in a 50kg bag) of Nigerian rice for N100 thrice a week. We will succeed in retaining at least NGN300million in the economy per month, and NGN3.6billion per annum that should have escaped as capital flight in importing rice.

Food for thought.

Regards,

Mykellio

Mykellio:
We need a revolution.

http://www.premiumtimesng.com/news/headlines/195509-investigation-inside-the-massive-fraud-in-nigerias-n117billion-rice-import-quota-scheme.html?utm_source=&utm_medium=twitter

First, it was petroleum subsidy scam, now it is our rice. How long will Nigerians sell their destiny for a plate of Thai rice? But, wait whose fault is it? Can they thrive if there is no market and appetite for it?

Last year I was in the UAE, stayed in Bur Dubai. I entered a Tesco Franchise store off Al Rolla crescent and picked up a 10kg bag of premium quality rice for 15Dirhams (1Dirham = NGN50). That's NGN750. This implies a 50kg would have cost about NGN3,750.
Now, this is not just about rice. I took a cab, 2015 model Hyundai Elantra to Al Mahktoum, driven by a young man named Hussein. Out of curiosity I asked him how much the car cost. He smiled and answered 55,000Dirhams with 0% interest bank loan and comprehensive 3rd party insurance. That's about NGN2,750,000. But same vehicle at Stallion Group, Nigeria is about NGN4million. So, what is it about?

This is about our greed and abysmal "long-throatedness". The desire to make colossal profit margins without regard to whose detriment is mind-buggling and infernal. So, this is not about whether Nigeria is importing or producing rice. It's just we are greedy and lazy.

All the companies listed in that scam want to make quick and huge money, whereas agribusiness takes patience and requires a long term investment mentality to thrive. The rice value chain in particular is very long. Several processes, so yes, instead of going through all that to refine the quality, they just catapult the funds out to import and then sell at ridiculous prices. But mind you they spend most of their time in such places as I mentioned above, so the price here is not their business. Go and ask Oba Otudeko how much a bag of rice is? If they have their way, a bag of rice will sell at N20,000 and a litre of fuel for N1,000.

Yes, I produce rice. But beyond that, for the sake of the economy, for the sake of our pockets for the sake of several millions of Nigerians that eat rice as just "a Sunday meal". Let's develop Nigeria's rice value chain. And your own contribution to it is by buying it and eating it. The rice the Thai family eat on their table in Bangkok is not international, it is local to them. So, let's stop the negativity attached to the word local.

It has chaff, it has stone, it is colored. Yes. But, with adequate investment, the indigenous quality will attain and can surpass foreign standard. Stone in the rice is not the farmers' fault. Rice is not planted in the air, it grows from the soil. Between harvest and bagging, rice loses over 20% of its weight in form of chaff, husk and other sediments as well as moisture. This is the terrain of capital-intensive investment, which is significantly lacking. The farmer can not be the one to plant and be the one to process at the same time. You cannot be the deceased and be the bereaved at the same time. There are people that view this nairaland everyday. There is somebody who has access to investment. Do you know that with just NGN50million, a major processor can be installed and operated in a strategic rice zone in the country that will service over 500 farmers and turn out over 300,000MT of quality rice per annum. Did I just say just? Yes, because there are people who spend that on just one or two cars, which become obsolete within a couple of months. Rice has no model, yes the varieties but there is no fashion attached to it just the appetite.

Let's wake up and stop our nation from being the global dustbin of everything. From rice, to frozen foods, cars etc. Let's make our nation great. Instead of looking for quick money invest in long term agricultural infrastructure. Every other thing may change, but we will always eat. That's the secret behind the lucrativeness of agriculture. Only that the Thai are using their "loaves of bread to pack our stew", crass exploitation of the highest order.

If 1 million Nigerians buy 1 Derica (small unit that measures 64 times in a 50kg bag) of Nigerian rice for N100 thrice a week. We will succeed in retaining at least NGN300million in the economy per month, and NGN3.6billion per annum that should have escaped as capital flight in importing rice.

Food for thought.

Regards,

Mykellio