Onochie speaks as farmers promise to crash price of rice in 3 weeks

Onochie speaks as farmers promise to crash price of rice in 3 weeks

Lauretta Onochie, President Muhammadu Buhari’s aide on social media, on Monday, October 21, gives Nigerians hope over an alleged potential crash of rice's price in the market.

Onochie who made this known via her Twitter handle, @Laurestar, says in three weeks time, rice consumers "should expect a crash in the commodity's price to about N9,000 per 50kg.

The presidential aide made reference to a report published by The Punch where rice farmers reportedly promised to crash the price of the commodity as they recorded a "bumper harvest".

"Instead of paying 25,000 for "Foreign" Nigerian Rice, you will now have extra ₦16,000 towards other needs," Onochie added.

Nigerians have in recent times complained about the hike in rice prices, a development some have linked to federal government's closure of the nation’s land borders which reportedly prevented foreign rice importation.

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Meanwhile, Legit.ng previously reported that the Central Bank of Nigeria (CBN) appealed to members of Rice Millers Association of Nigeria (RIMAN) and other stakeholders in the rice value chain not to increase the price of rice over border closure.

Godwin Emefiele, the CBN governor, said this in a statement issued and made available to newsmen on Monday, October 14, in Abuja by Muhammed Tijani, media assistant to RIMAN’s chairman.

Emefiele also called on them not to hoard rice as a result of the closure of the borders in order to increase price, adding that such acts were unpatriotic.

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Source: Legit.ng

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