₦airaland Forum

This is why insurance is important

Government placed embargo on rice importation and encourage local production. But this event is discouraging.

FreeStuffsNG:
Can you please stop sensationalising it as if flooding effect is a competition or these billions you are calling are chicken feeds money. No doubt even N1 loss is a loss but those farms are not worth the amount in billions you just exaggerated it to.

That farm in Nassarawa is not worth $140m and does not account for 25% of rice farms in Nigeria so please stop giving false numbers.

Rice farms are built in swamp fields and this flooding is one of the risks associated with the business all over the world from US to India to Pakistan to Brazil. They will not be out of business despite the flooding.
No serious rice farmer quits rice farming business because of flooding.

Baba you are a talkative. You talk too damn much

This APC government will just be calling billion dollars as if Nigerians are fools.

FreeStuffsNG:
Can you please stop sensationalising it as if flooding effect is a competition or these billions you are calling are chicken feeds money. No doubt even N1 loss is a loss but those farms are not worth the amount in billions you just exaggerated it to.

That farm in Nassarawa is not worth $140m and does not account for 25% of rice farms in Nigeria so please stop giving false numbers.

Rice farms are built in swamp fields and this flooding is one of the risks associated with the business all over the world from US to India to Pakistan to Brazil. They will not be out of business despite the flooding.
No serious rice farmer quits rice farming business because of flooding.

Imagine what a human being is saying.
No producer will be out of business because he loses all his products... all his investment??
How can one be this callous, speak so badly....

FreeStuffsNG:
That farm in Nassarawa is not worth $140m and does not account for 25% of rice farms in Nigeria so please stop giving false numbers.

Rice farms are built in swamp fields and this flooding is one of the risks associated with the business all over the world from US to India to Pakistan to Brazil. They will not be out of business despite the flooding.
No serious rice farmer quits rice farming business because of flooding.

If the rice farm isn't worth $140m, pls tell us how much it is worth. Where did anyone say that the farm accounts for 25% of rice farms in Nigeria? How did you read the read? Was it upside down?

What has rice farming in Pakistan, US and Brazil got to do with the story? Where was it stated in the story that the owner of the farm was going to quit his business because of flooding?

If you can't answer these questions then it's obvious that you are the one sensationalising

femicyrus:
I think God is now angry with the system that closed border against rice of #8500 per 50kg for that #36000 per 50kg of low quality

They closed the border and let people suffer.

If the economy was working the way it ought where our comparative strength in cocoa, textiles, tea, kolanuts, sorghum, corn, coffee, oil and gas, Tech services, solid minerals are all working optimally and we are making $200b -$300b a year.

How much is $10billion that we cannot use for the importation of rice and fish?

Instead of buhari to activate our strength , he wants to do wuruwuru to the answer.

Wow. This is really catastrophic... Higher cost of rice loading

ahnie:
Nawa o,food shortages next year dey sure because of this flood

next year?
Rice is euphemeral, so the shortage will only last till december and January.

Ordinary oil we cannot even sell and make money.

The oil is being stolen, while saudi arabia is tired of making money and don't know what to do with it.

But buhari thinks closing the border is the solution.
Wuruwuru to the answer govt.

CheapHomes1:
If the rice farm isn't worth $140m, pls tell us how much it is worth. Where did anyone say that the farm accounts for 25% of rice farms in Nigeria? How did you read the read? Was it upside down?

What has rice farming in Pakistan, US and Brazil got to do with the story? Where was it stated in the story that the owner of the farm was going to quit his business because of flooding?

If you can't answer these questions then it's obvious that you are the one sensationalising

This same Olam Rice farm has hit front page twice in less than 24 hours. It's capacity meets and accounts for about 25% of the Nation's rice needs. The vice president of Olam Farms himself, gave that estimate on National TV.

https://www.nairaland.com/7371785/floods-submerge-olam-rice-farm

Johnn74:
This same Olam Rice farm has hit front page twice in less than 24 hours. It meets and accounts for about 25% of the Nation's rice needs..

https://www.nairaland.com/7371785/floods-submerge-olam-rice-farm

Oga, read what your screenshot and what you highlighted. Are they the same?

This is a colossal disaster.
Will this country exist through next year?

FreeStuffsNG:
Can you please stop sensationalising it as if flooding effect is a competition or these billions you are calling are chicken feeds money. No doubt even N1 loss is a loss but those farms are not worth the amount in billions you just exaggerated it to.

That farm in Nassarawa is not worth $140m and does not account for 25% of rice farms in Nigeria so please stop giving false numbers.

Rice farms are built in swamp fields and this flooding is one of the risks associated with the business all over the world from US to India to Pakistan to Brazil. They will not be out of business despite the flooding.
No serious rice farmer quits rice farming business because of flooding.

***
As the water recedes, the positives will come to bear on the land. You should have dyked paddy rice which is very good too.

Its too early in the day for this company to brandish "corroded" profits.

Rice farm floods are redeemable in the long run compared to Cotton farm loses.
The $140M($20M) won't fly though one is sympathetic to their lose in forcasted profit.

[quote author=FreeStuffsNG post=117321328]Can you please stop sensationalising it as if flooding effect is a competition or these billions you are calling are chicken feeds money. No doubt even N1 loss is a loss but those farms are not worth the amount in billions you just exaggerated it to.

That farm in Nassarawa is not worth $140m and does not account for 25% of rice farms in Nigeria so please stop giving false numbers.

Rice farms are built in swamp fields and this flooding is one of the risks associated with the business all over the world from US to India to Pakistan to Brazil.

***
As the water recedes, the positives will come to bear on the land. You should have dyked paddy rice which is very good too.

Its too early in the day for this company to brandish "corroded" profits.

Rice farm floods are redeemable in the long run compared to Cotton farm loses.
The $140M($20M) won't fly though one is sympathetic to their lose in forcasted profit.

It's gonna be fine..

Dis one na big problem oh

brightbright:
Video

https://www.youtube.com/watch?v=ikRpgqGGvcc

Dele Momodu Shared the videos on his Instagram page.

I was terribly sad to receive this footage from my amazing friend and Brother @aadefeko at breakfast this morning and he narrated his company's ordeal in Nasarawa State:

"My farm in Nasarawa flooded as River Benue burst its banks and broke the dyke... 20 million dollars worth of crops and critical infrastructure destroyed and 25% of Nigeria's rice needs gone in one fell swoop... Olam farm in Rukubi Doma local government area of Nasarawa state.10,000 hectares and largest rice farm and mill on the continent 140 million dollars worth of investment..."

"We have 57 kilometer of dykes surrounding the farm. The farm has a cultivated area of 12km by 7 km…the 57 km of dykes were meant to stop the floods from entering. These were made after the floods impacted us in 2012..."

"The dykes around the farm protected the farm from flood waters. We have been battling the waters since last two to three weeks but finally the water pressure took over and broke the dykes at multiple spots..."

What a monumental tragedy... May God help the company replenish this huge loss...

https://www.instagram.com/reel/CjWNvuOsmt7/?igshid=YmMyMTA2M2Y=

We never knew there was 10,000 hecter of rice� Wow so sad but God knows best.

On behalf of nature, I say sorry bro. Shikena

The troubles are all over the world. No continent excepted.

20 million dollars Kwa!Stop this exaggeration

CheapHomes1:
Oga, read what your screenshot and what you highlighted? Are they the same?

It's capacity meets and accounts for about 25% of the National rice needs. The vice president of Olam Farms himself, gave that estimate on National TV.

The sum total of the total capacity of all Other farms in the whole Nation account for another great percentage of National rice needs.

But Last time l checked Total local production of Naija largest rice farm-Olam Farms (meeting only a paltry ~25%) and the others could not meet 100% of National rice needs. That is why the Nation was importing rice initially to suffix local production and meet up 100% of National rice needs/demand.

Olam Farms accounts for 25% of our Local production. 25% of Made in Nigeria rice in the Nation's Market is supplied by Olam Farms

DonMarkuzi:
Go and store rice now if u can, this alone is a precursor of what's in store next year.

fact!

DonMarkuzi:
Go and store rice now if u can, this alone is a precursor of what's in store next year.

Already it's expensive, it's 33,000 a bag and only God knows how it will be afterwards.

Northernblood8:
Now, imagine what hardship that is coming our way this December.

This is the reason why the borders should be opened and import restrictions removed. It's risky for all Nigerians to depend on one source for feeding. Disasters like this,Boko Haram, bandits and other terrorists will indirectly lord over all Nigerians.

And they say obi is wrong.
I laugh at some people honestly.

We all need to act fast

But rice is waters friend Are you saying that the price of rice will increase surpassing the price that is still jaw dropping.. aah Nigeria this can’t be the end for all of us. The lies from the government don’t make sense anymore. It’s way better if we are slaves to a white man again than going through this black on black slavery... that’s damn sad, that’s a whole lot like death..#crying

Lovenorth:
Federal government should stop the sadistic way of leadership, they must allow importation of rice and food stuff into the country

At the expense of our local rice farmers.....


That's partly why we don't have a good domestic textiles industry anymore....unrestricted importation

Our leaders are all goat. This disaster is avoid able it shows we did not learn anything after the 2012 flood.. Dredge river Niger, build more dams and relocate some communities away from the flood plan.. This simple thing is what our useless leaders can't do!! All they are interested in is who wins next election and the citizens are rooting for their favorite Ole

DonMarkuzi:
Go and store rice now if u can, this alone is a precursor of what's in store next year.

The farm is not destroyed

Johnn74:

It's capacity meets and accounts for about 25% of the National rice needs. The vice president of Olam Farms himself, gave that estimate on National TV.

The sum total of the total capacity of all Other farms in the whole Nation account for another great percentage of National rice needs.

But Last time l checked Total local production of Olam Farms (meeting only a paltry ~25%) and the others could not meet 100% of National rice needs. That is why the Nation was importing rice initially to suffix local production and meet up 100% of National rice needs/demand.

Olam Farms accounts for 25% of our Local production. 25% of Made in Nigeria rice in the Nation's Market is supplied by Olam Farms

You haven't the question.

Oga, read what your screenshot and what you highlighted? Are they the same?