Rice farmers’ associations in Lagos State have projected a further decline in the price of rice ahead of the festive season following Governor Babajide Sanwo-Olu’s decision to slash the price of Lagos Rice.
The farmers made the prediction in separate interviews with journalists on Sunday in Lagos. Governor Sanwo-Olu recently reduced the price of a 50kg bag of Lagos Rice from N64,000 to N57,000.
Vice Chairman of the All Farmers Association of Nigeria (AFAN), Southwest and Lagos chapter, Mr. Sakin Agbayewa, applauded the state government for the strategic pricing move. He said the decision Rice could trigger healthy competition in the market, leading to even lower prices in the coming weeks.
“The Lagos State Government pegging the price of a bag of rice at N57,000 is a good development. With this competitive price, we believe that maybe in one or two weeks, the price of rice will further drop,” he said.
Agbayewa explained that foreign rice currently sells between N52,000 and N56,000 depending on location, noting that prices fluctuate due to transportation costs. He emphasized that Lagos Rice offers better nutritional value and food safety given its shorter production-to-market cycle.
“If you consider price and quality, Lagos Rice at N57,000 is still a better option. Imported rice selling for N52,000 to N56,000 may have been stored for three to five years, or even expired. Lagos Rice guarantees better quality,” he added.
Chairman of the Rice Farmers Association of Nigeria (RIFAN), Lagos chapter, Mr. Raphael Hunsa, also commended the state government for the initiative, describing it as timely and beneficial to consumers.
“The Lagos State Governor dropping the price of rice is a great move. If production is low, demand rises and prices go up. Pegging a bag at N57,000 this season is most beneficial to Nigerians,” he said.
Hunsa urged the government to continue supporting farmers to boost all-year-round production, which he said would help stabilise the cost of rice and other staple foods.
“This Christmas is at our door, and everyone will celebrate well with this drop in price,” he added.
