Minister of Agriculture and Rural Development, Muhammad Nanono, has decried the high cost of rice in the country.
The minister stated that it was unpatriotic for rice producers to sell a bag of the commodity above N15,000.
He explained that production of 50kg of rice cost N10,500 hence should not sell more than N15,000 in the market.
Nanono noted that the border closure had resulted in increased output by rice milling plants in Nigeria, adding that the boost would reduce the high rate of unemployment in the country.
He said, “I see no reason why a 50kg bag of rice should be sold for N17,000. The same paddy rice is sold at N8,500 and maximum processing expense is N2,000, making a total of N10,500.
“It is unpatriotic to sell a bag more than N14,000 to N 15,000.”
—SaharaReporters
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