Lagos spends N1.049b on rice subsidy


Lagos State Commissioner for Agriculture, Mr. Oluwatoyin Suarau on Thursday, said the state has spent N1.049billion on rice subsidy in the last three years.

Suarau made the disclosure while delivering a speech at the ongoing annual Ministerial Press Briefing to mark the third anniversary of Governor Akinwunmi Ambode’s administration held at Bagauda Kaltho Press Centre in Alausa, Ikeja, Lagos.

He said: “The state government has subsidized LAKE Rice under this review period with N1.049billion. This is targeted towards ensuring food sustainability and food security in the state and as an end result, making Lake Rice a national brand.”

The commissioner noted that the Lagos state government is determined to achieve food sufficiency and food security in the state, saying that it will leave no stone unturned in making this a reality.

Suarau added that the LAKE Rice which is being sold at a highly subsidized rate of N12, 000 per bag of 50kg, has aided in crashing the inflated price of rice in the country.

He said the subsidy included cost of transportation, bagging and difference in cost price of the rice from other brands, adding that a total of 150 marketers and other ancillary service providers have been empowered through the sale of LAKE Rice.

The commissioner reiterated on Gov. Akinwunmi Ambode’s strong-willed dedication in boosting the production of rice, adding that the establishment of the rice mill is targeted at enhancing food security and creating employment opportunities in the state.

The post Lagos spends N1.049b on rice subsidy appeared first on AgroNigeria.

Source: AgricNews-Update


Please enter your comment!
Please enter your name here