Okechukwu Nnodim, Abuja

The Federal Government on Monday declared that the price of rice would start to fall from November this year.

It stated that more Nigerians had returned to their various farms, adding that at the next harvesting season next month, the price of rice would start to crash.

This came as the government said that the delay in the approval of the 2016 budget had made it impossible to implement the capital expenditure in the agricultural sector.

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, said this while addressing members of the Senate Committee on Agriculture and Rural Development at the headquarters of the ministry in Abuja.

Ogbeh, who stated that the government could not be involved in the importation of rice as speculated in some quarters, stressed that his ministry would not encourage rice importation because it would be detrimental to local production.

He said the Federal Government was against rice smuggling and noted that the Seme border had become a notorious route for the smuggling of contraband products into the country.

“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,” the minister said.

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.

The Minister of State for Agriculture and Rural Development, Senator Heineken Lokpobiri, said that the $22bn annual food import bill had led to the astronomical rise in the price of rice and other commodities.

He stressed that if Nigerians failed to produce some of the items being imported before December, the price of rice could skyrocket to N40,000 a bag.

On why the ministry had yet to start implementing its capital budget, Ogbeh said, “It is about now that the capital expenditure is beginning. One of the reasons why money is not circulating is that we need to follow the due process on issues of procurement, advertisement and others.”

According to him, his ministry has spent just N882.58m, representing four per cent of the N21bn budgeted for it in the 2016 Appropriation Act.

He also said, “You may be surprised to know that only six to seven states in Nigeria are showing enthusiasm in agriculture. Some by nature don’t seem interested, while others just can’t connect with whatever we are doing at the federal level.”

Ogbeh further stated that his ministry inherited N67bn debt when the present administration came on board, but added that N20bn had been paid to agro-dealers and distributed 900 million oil palm seedlings to farmers across the country.

http://punchng.com/rice-pricell-fall-nov-fg/

Good news.

I pray so!
Cos' this exam gonna hot if it didn't come down.
But Buhari is a dunderhead!

This time the FG didn't allow Lai Mohammed to circulate the lie
Is this another change or substitute because the anointed Liar won't find it funny (lying on his behalf)

We already got the message, a bag of rice is going to be N40,000.
Thanks for the information

The reverse was the case when good old GEJ was president less than two years ago. God bless that man and forgive the ungratefuls.

u better stop this fake promises if you can't fulfill them at the stipulate time

Personally I'm tired of hearing it from the media.. I think the farmers association of Nigeria will be in a better position to tell us all this

But the damage has already been done though even though from all indications it will never be the same again in coming years i.e. a bag of rice can never go back to below #10000 again not now not the next few years

Well, it's a cheering news but until then, my fingers and legs are crossed.

Another promise made, we r waiting

Yeye talk; na today you dey promise us Lies? Oga abeg open border o Jare

What is the problem of this people, so people should stop buying and eating rice until November.

I wonder what you want people to be eating from now till that November, knowing fully well that rice is the most consume food in Nigeria.

You people will not finish Nigerians with hunger.

OK, thank God November is around d corner.

amen

Let's all wait till then.....


But I've stocked my kitchen with two big bags of rice already

I hope it is rice that is good for consumption.

We pray

So they even know that the prize is High. Nonsense people

Una still dey believe dem ?

lie lie government

I claim it by fire in Jesus name.

Another lie obviously

Amen.

Meanwhile, for your livestock feed production, pls contact us for your good quality soyabean cake and groundnut cake. Direct from factory. Good price.

All predictions and promises made by this administration has failed woefully.Why should I trust this one? Believe this administration at your own peril.

This is same tin u people said dat fuel price will crash after two months of subsidy removal

I thought they lifted the Ban on importation of rice

It is a lie. He only passed the information that rice would be 40,000 by November. Be prepared!

let's wait and see.
because na next month I won do my grandpa burial, make the price come down abeg

Hmmmmm

Hmmm one too many lies by FG

coolebux:
This time the FG didn't allow Lai Mohammed to circulate the lie
Is this another change or substitute because the anointed Liar won't find it funny (lying on his behalf)

We already got the message, a bag of rice is going to be N40,000.
Thanks for the information

. Guy u be fool o, just saying.lol

coolebux:
This time the FG didn't allow Lai Mohammed to circulate the lie
Is this another change or substitute because the anointed Liar won't find it funny (lying on his behalf)

We already got the message, a bag of rice is going to be N40,000.
Thanks for the information

those information came from wailers.....rice can never be 40k