₦airaland Forum

Once Dangote launch his Rice Factory...the price of Rice will drop by 50%

Originakalokalo:
Please, I am a bit confused...Why is the bag of Rice 97,000 and why does it keep increasing?

What is the government doing to arrest this?

Are they aware?

Is this caused by greedy farmers? Low supply? Bad policies?

Rice apart, where is the import duty removal on food?

Why is food becoming a commodity so expensive that a common man cannot afford it?

Please if you have answers, kindly respond...

It's higher now. It's about 118k I think.

Kobojunkie:
Interesting. So you don't want the World Bank to lend Nigeria money? How do you intend for Nigeria to be at least able to pay the salaries of FG, State and LG workers at this point in time? Let's hear your ideas.

Let them go and plant rice

MadPolitician:
Tinubu does not understand that no matter how important his so called economic policies/changes/reforms are, making sure that the people don't go to bed hungry, should be even far more important. Economic reforms are intended to better the lives of the people and not to kill them. Bulaba does not grasp this, and no one around him seem to have the boldness to tell him the uncomfortable truth.

As for local rice farmers, breeze don blow and we don see fowl nyansh. No one is as greedy as rice farmers and Dangote in this country. This astronomical increases in the prices of rice, started during the time of buhari, when borders were closed to help them. Instrad of maintaining a reasonable price regime, what they did was to start hiking prices arbitrarily. I mean local rice farmers. They now want to sell at a costlier price than the imported brands and Tinubu is still daft enough not to drastically reduce tariffs on rice imports.

A man constantly high on weed can't understand anything. He is irrational.

MadPolitician:
Lets look at it this way; how many people are involved in rice farming in Nigeria?? Up to 100k citizens? What do they do with their excess profits? Build factories and industries? No! Create morw high paying jobs? I'm not seeing it. Or marry new wives, then go to upper and lesser hajj, maybe then buy new cars and mansions

Compare that with this;

How many people consume rice in Nigeria? Obviously, hundreds of millions of people . Its a staple that is eaten by almost every healthy Nigerian on a daily basis. That means hundreds of millions of consumers and thousands of retailers and wholesalers.

So, for how long will the government contineu to caliberate economic policies that only carter to the well being of a few thousand greedy farmers , while millions of citizens go hungry? They don't even pay taxes! I mean the socalled farmers. They just grab grab grab and grab.

And if all they do is to buy foreign commodities and properties abroad with their profits, such behaviour still instigates capital flight. If the rice farmers are not willing to drastically reduce their prices, the border should be thrown wide open for big rice imports. We should all not die because we want to help some ruthless rice farners.

What is wrong with you? You sit in your house and write what you don't know. Have you traveled to any of the rice producing communities? Well I have. I have been to at least 50 rice producing communities in this country.
Now let me educate you. In these communities, you don't find millionaires. You will see as much poverty as in any other part of the country.
I am in the business of wholesale foodstuffs so I know first hand. Your rice farmers are not making a crazy profit. If it's as easy as you think, why is every millionaire not investing in rice farming or why don't you start your own farm.
Stop spreading fake news.

Originakalokalo:
Please, I am a bit confused...Why is the bag of Rice 97,000 and why does it keep increasing?

What is the government doing to arrest this?

Are they aware?

Is this caused by greedy farmers? Low supply? Bad policies?

Rice apart, where is the import duty removal on food?

Why is food becoming a commodity so expensive that a common man cannot afford it?

Please if you have answers, kindly respond...

It's a calculated plot.

Don't think of buying a bag of rice, and your worries will be less.

Live one day at a time, as most common men do. The poor usually don't buy bags of rice. It's the rich who do, when they don't even know if they will live to see tomorrow.

A derica of rice is between 1200 to 1500 in most places.

[quote author=Originakalokalo post=132499172]Please, I am a bit confused...Why is the bag of Rice 97,000 and why does it keep increasing?

What is the government doing to arrest this?

Are they aware?

Is this caused by greedy farmers? Low supply? Bad policies?


Here in Makurdi, you can get the local rice @ 68-72k...07015344888

The goal is the Farmer will make more money all for electoral vote because if you can make the North millionaires at the expense of Nigerians that is more beneficial to grab and snatch gang

Foreign rice is 120k

Must you eat rice?!!... Can't you fast and soak garri?!!

Signed
Bayo Onanuga

Freetech:
Simple answer

Nigeria population is less productive and more than available resources.

While Thailand was using their land and God given rain to plant rice Nigeria is busy doing nothing, but importing

Your question should be is Nigeria so lazy that it can't feed herself
Ask your economic teacher a bout demand and supply

When demand is more than supply price must go up.

In economics, that is not the only thing that drives price up. Cartel can quickly drive price up. If they all agree to sell at a price by forming a union, price will never go down

Meanwhile, Mariahangels, help us with cheaper alternatives to the following:

-Rice
-Beans
-Foofoo
-Stew
-Meat and Fish
-Pure water
-Amala
-Yam
-Garri
-Fruits
-Eggs
-Electricity
-Gas
-Fuel
-Security
...In short, Breathing!

Because tinubu is a devil incarnate and it's mission is to kill, steal and destroy

But it will perish

also

It shall not be well with all tinubu supporters, your blood shall be atonement for devil

Kobojunkie:
Your government is playing on you all the same game that IBB played on Nigerians during SAP. IBB lied that he was busy implementing SAP reforms when in fact he was instead busy looting Nigeria's oil money and blaming all the suffering that resulted on SAP and IMF. This present government is, however, busy looting Nigeria's resources— since they don loot the money finish— while it continues to lie to you that it is working on reforms on which it then has you blaming your sufferings on.

Abacha really tried ooo.
in his 5 years as Head of state, naira, fuel was stable

CrossRhodes:
■ Abacha really tried ooo. in his 5 years as Head of state, naira, fuel was stable

Abacha did no such thing! He simply sat back and continued where IBB stopped after he, IBB, rolled back many of the SAP reforms he had initially played with — I suspect he did it to get at IMF loans. But with the oil windfalls, rolled back the reforms... removal of fuel subsidies, devaluation of the Naira, the selling off of state-owned businesses, etc.

Originakalokalo:
Please, I am a bit confused...Why is the bag of Rice 97,000 and why does it keep increasing?

What is the government doing to arrest this?

Are they aware?

Is this caused by greedy farmers? Low supply? Bad policies?

Rice apart, where is the import duty removal on food?

Why is food becoming a commodity so expensive that a common man cannot afford it?

Please if you have answers, kindly respond...

Bad policy. No president in the world ever took the economic policies taken by President Tinubu on the first day of office - without ministers and advisers.. If Tinubu had advisers and ministers the time he he declared those economic policies, the advisers and ministers would have objected to the policies.
Mass death to black Africans beginning with Nigeria, that is the pivot of Tinubu administration's economic policies.

MadPolitician:
Tinubu does not understand that no matter how important his so called economic policies/changes/reforms are, making sure that the people don't go to bed hungry, should be even far more important. Economic reforms are intended to better the lives of the people and not to kill them. Bulaba does not grasp this, and no one around him seem to have the boldness to tell him the uncomfortable truth.

As for local rice farmers, breeze don blow and we don see fowl nyansh. No one is as greedy as rice farmers and Dangote in this country. This astronomical increases in the prices of rice, started during the time of buhari, when borders were closed to help them. Instrad of maintaining a reasonable price regime, what they did was to start hiking prices arbitrarily. I mean local rice farmers. They now want to sell at a costlier price than the imported brands and Tinubu is still daft enough not to drastically reduce tariffs on rice imports.

Reform, to him, is synonymous to pain!

Parydelegate:
Once Dangote launch his Rice Factory...the price of Rice will drop by 50%

dangote to the rescue.

Tinubunomics

Let us not forget that floating of Naira as ripple effect on virtually every of our ways of live. Fertilizers are not cheap anymore; farmers now pay bandits millions of Naira in order to allow them to cultivate. After harvesting, moving produce from one state to another with extortion from our security personnel and Agberos(Tout), all these are put together by farmers and added to cost of production. Since our govt has refused to defeat insecurity and drive the tout away from our major roads, then believe me in 3yrs time a bag of rice could be 500k.

MadPolitician:
Tinubu does not understand that no matter how important his so called economic policies/changes/reforms are, making sure that the people don't go to bed hungry, should be even far more important. Economic reforms are intended to better the lives of the people and not to kill them. Bulaba does not grasp this, and no one around him seem to have the boldness to tell him the uncomfortable truth.

As for local rice farmers, breeze don blow and we don see fowl nyansh. No one is as greedy as rice farmers and Dangote in this country. This astronomical increases in the prices of rice, started during the time of buhari, when borders were closed to help them. Instrad of maintaining a reasonable price regime, what they did was to start hiking prices arbitrarily. I mean local rice farmers. They now want to sell at a costlier price than the imported brands and Tinubu is still daft enough not to drastically reduce tariffs on rice imports.

The government can set up a price fixing agency. It should fix the price of every commodity in the country.

It will be interesting to know how much the local farmers spend on farm equipment and fertilizers. If they have access to cheap forex and spend less than everyone else to import what they need to produce rice then we can blame them for the hike in price as well as remove tariffs and permit foreign rice to crush our local options.

Economy Is Bad

MadPolitician:
Lets look at it this way; how many people are involved in rice farming in Nigeria?? Up to 100k citizens? What do they do with their excess profits? Build factories and industries? No! Create morw high paying jobs? I'm not seeing it. Or marry new wives, then go to upper and lesser hajj, maybe then buy new cars and mansions

Compare that with this;

How many people consume rice in Nigeria? Obviously, hundreds of millions of people . Its a staple that is eaten by almost every healthy Nigerian on a daily basis. That means hundreds of millions of consumers and thousands of retailers and wholesalers.

So, for how long will the government contineu to caliberate economic policies that only carter to the well being of a few thousand greedy farmers , while millions of citizens go hungry? They don't even pay taxes! I mean the socalled farmers. They just grab grab grab and grab.

And if all they do is to buy foreign commodities and properties abroad with their profits, such behaviour still instigates capital flight. If the rice farmers are not willing to drastically reduce their prices, the border should be thrown wide open for big rice imports. We should all not die because we want to help some ruthless rice farners.

do you really think throwing the border open will bring down price of rice,today's price of rice between $1-$2 dollars per kilo in Thailand depending on grade,so you see a bag of 50kg rice is almost #40-50 dollars which is roughly #70-80,k in Nigeria minus logistics,it is a simple economics of supply and demand,the foreign rice will be sold for #100k+ with the pressure going to local rice it must come up to 60-70k ,that is the law of economics,the problem was caused by whomever pushed the dollar from #400 to #1600 naira

Kobojunkie:
Your government is playing on you all the same game that IBB played on Nigerians during SAP. IBB lied that he was busy implementing SAP reforms when in fact he was instead busy looting Nigeria's oil money and blaming all the suffering that resulted on SAP and IMF. This present government is, however, busy looting Nigeria's resources— since they don loot the money finish— while it continues to lie to you that it is working on reforms on which it then has you blaming your sufferings on.

This is a perfect analysis that I have been doing my best to drum in the head of people I talk to.
The problem is not then reforms, it is the fact that the Govt of the day are using it as a smokescreen for looting the country's resources.
OBJ also carried out IMF aligned reforms and things didn't turn out half as bad as this

Sadly there is no economic reform at all.

What they are doing is destroying the Nigeria economy

Tinubu spent billions during buhari election

He also spend billions for his election

Now is he is recouping all the billions in 10 folds

Not forgetting there is another election coming he is also looting to prepare for that election.


Its the same reason I don’t want atiku to be president

Atiku will loot nigeria dry for all the billions he spent so far

onuman:
Bad policy. No president in the world ever took the economic policies taken by President Tinubu on the first day of office - without ministers and advisers.. If Tinubu had advisers and ministers the time he he declared those economic policies, the advisers and ministers would have objected to the policies.
Mass death to black Africans beginning with Nigeria, that is the pivot of Tinubu administration's economic policies.

Everything is tied to how much the government committed to FX and petrol subsidies. You cannot spend so much on those items without severe consequences. It was mega financial mismanagement to have done so.

Nigeria suffers from a systemic problem where the government is cash strapped to help its people without a disaster ahead when the treasury is empty.

Why please, I'm also asking

Insecurity caused by govt,
Farm shutdown,
Everything d cost,
High borrowing by govt,
No investment in production

Sorry for anyone defending Tinu

Kobojunkie:
Your government is playing on you all the same game that IBB played on Nigerians during SAP. IBB lied that he was busy implementing SAP reforms when in fact he was instead busy looting Nigeria's oil money and blaming all the suffering that resulted on SAP and IMF. This present government is, however, busy looting Nigeria's resources— since they don loot the money finish— while it continues to lie to you that it is working on reforms on which it then has you blaming your sufferings on.

I remember the SAP economic policies the IBB regime tried to foist on the Nigerian people back in 1986. The ensuing riots let to a lot of bloodshed in Lagos with over 150 dead. It seems so hard to understand how 40 years later the Nigerian people are willing to put up with the same policy in less than a generation

okoroemeka:
do that is the law of economics,the problem was caused by whomever pushed the dollar from #400 to #1600 naira

I hope you understand that CBN spends hundreds of millions of dollars to maintain a particular exchange rate. The CBN does not set exchange rate by mere fiat.

The dollars to be spent in doing better things like investing in your economy is used to prop up the naira.

u didn't ask also why is a cup of brown beans sold #600


one single tiny ball of akara is #100 everywhere now oo!

na die we dey oo!