A 50 kg bag of local rice currently sells between N65,000 and N80,000, depending on the species.
On March 6, Governor Babajide Sanwo-Olu of Lagos State and his Niger counterpart, Umar Bago, signed an agreement to produce and process food for Lagos.
The ex-lawmaker says he’s expecting a drastic reduction in the commodity’s price as soon as it hits the market.
“As at the end of December 2021, we have financed 4,489,786 farmers that cultivated 5,300,411 hectares across 21 commodities.”
According to Mr Hassan, Nigeria is the highest rice-growing country in Africa due to the federal government’s support.
Mr Goronyo said the local production of rice had increased from two million tonnes in 2015 to nine million tonnes.
