Going by the predictions and projection of some Nigerian farmers, a 50kg bag of produced in Nigeria rice may go for N7, 000 by the end of this year.
The Rice Millers Association of Nigeria, RMAN and the Rice Farmers Association of Nigeria, RIFAN gave the indication at a meeting with the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, in Abuja, on Wednesday.
President of RIFAN, Mallam Aminu Goronyo, said its members are expecting bumper harvest this season, assuring that the price of the commodity would go down progressively with laudable interventions from the Federal Government.
Consequently, the President of the millers association, Mohammed Abubakar, said with the agreement by the farmers to sell one tonne of paddy at N110,000 instead of the present cost of N150,000, they have agreed to crash the price of rice by the end of December.
He categorically blamed the Nigeria Customs Service (NCS) for its inability to control smuggling of rice into the country.
Responding to the promise, the Minister of Agriculture and Rural Development, Chief Audu Ogbe, assured the farmers and millers associations that the government would assist them to ensure rice sufficiency in the country as soon as practicable.