Some Farmers’ associations in Lagos State have predicted a further drop in the price of rice ahead of the yuletide, attributing this to Governor Babajide Sanwo-Olu’s recent slash in the price of Lagos rice.

The farmers shared this outlook in separate interviews conducted by the News Agency of Nigeria on Sunday in Lagos.

NAN reported that the Lagos State Governor, Babajide Sanwo-Olu, recently reduced the price of a bag of Lagos Rice from N64,000 to N57,000.

Mr. Sakin Agbayewa, the Vice Chairman of the All Farmers Association, Southwest and Lagos State chapter, commended the state government for what he termed a strategic move.

Agbayewa suggested the development would likely drive competition in the sector, leading to an additional crash in the commodity’s price. He said: “The Lagos State Government pegging the price of a bag of rice at N57,000 is a good development.”

He continued, expressing hope for a further price reduction soon: “And hopefully, we want to believe that with this competitive price and competition, maybe in one week or two weeks, the price of rice will further drop.”

Agbayewa provided current context for imported rice, noting: “Presently, the price of foreign rice is between N52,000 and N56,000, and that depends on where you are buying it. “If you are buying it very close to the border, it comes at N52,000. If you are buying it from the main market, it sells between N54,000 and N55,000 per 50kg bag; the extra cost is transportation.”

Agbayewa then spoke about the quality assurance of the state-produced rice: “At N57,000 per bag, consumers are eating quality food. From the production to the milling plants, to the processing, to the shelf, market and consumer, you might be looking at one year.” He drew a stark contrast with imported rice: “According to him, if you are looking at the imported rice that sells between N52,000 and N56,000, consumers may be buying rice that has been stored for 3 to 5 years or even expired.”

He concluded his statements by strongly recommending the Lagos rice: “So, if you want to look at price and quality, I think the Lagos rice is good at N57,000. When you buy Lagos rice, you are looking at food safety, nutritional value, and everything it has to offer at that price. “It is a good buy, I would prefer the Lagos rice at N57,000 than buy cheaper rice with lower quality,” he said.

Mr. Raphael Hunsa, the Chairman of the Rice Farmers Association of Nigeria, Lagos State chapter, also commended the Lagos State Government for the initiative. He praised the government’s actions, saying: “The government is always on top in terms of policy decisions that affect the people. And the Lagos State Governor, Babajide Sanwo-Olu, dropping rice prices is a great move.”

Hunsa explained the relationship between production and pricing: “If production is low, definitely the demand will be high, and subsequently the price will be high too. The Lagos State Government pegging a bag of rice at N57,000 this season is most beneficial to Nigerians.” He then made an appeal for continued support: “We, however, urge the government to continue to support rice farmers to increase our production, and subsequently, the price of rice and other staples will continue to drop.”

He reiterated the importance of stable production for stable prices: “If we have more rice farmers producing all year-round, definitely the price of rice will continue to be stable.” Hunsa concluded by noting the positive timing of the price drop for the festive season: “This Christmas is now at our door, and everyone will celebrate well with this drop in price,” Hunsa said.