Lagos gives reason to sell rice and vegetable oil directly to consumers

The Lagos state government has given reasons to sell rice, vegetable oil and other foods directly to consumers starting this Christmas season.

The state government, through the Lagos State Agricultural Input Supply Authority (LAISA), has started selling these food products at reduced prices to citizens to prevent hoarding and price gouging during the Christmas period.

According to the Nigerian News Agency (NAN), this was reported by Deputy General Manager, Commercial, LAISA, Jide Ajenifuja, on Tuesday in Lagos.

Ajenifuja said the sale is aimed at stabilizing market prices and not taking over the businesses of traders in the market.

Outside to avoid hoarding: Ajenifuja said,

The news continues after this announcement.

  • In agribusiness, the moment the government arrives with the price, the suppliers and those who are monopolizing the rice are going to want to raise the price.
  • “In Abuja now, a bag of rice is around N50,000 and up. Now, the state government says that a bag of rice costs N37,000; we know that Christmas and the elections are coming; therefore, no one will want to treasure it more than necessary.
  • “Local long-grain rice costs N37,000 per 50kg bag, three liters of soybean oil costs N5,000, while a liter of soybeans sells for N1,900.”

Available until 2023: The assistant general manager said that there were enough products in stock and that LAISA would buy more basic products with the availability of funds.

He further said that the staples would be available until 2023 due to the elections, adding that the agency had started the sale of these foods in Oko-Oba, Agege on Monday.

  • He said, “We want to raise awareness that people can buy rice and oil for the festive period at our office.
  • “People have started placing orders and we will start delivering them from Wednesday.”

However, Ajenifuja pointed out that the price of agricultural commodities fluctuates due to inflation and other crises globally.

The news continues after this announcement.

  • He added, “Last year we sold rice between N24,000 and N26,000; even at the beginning of this year, we sold rice at N28,000. But now, it is N37,000 for 50 kg.
  • “Agricultural commodity prices fluctuate. Fertilizer, for example, sold for 7,000 naira between February and March, but went up to 27,000 naira in June and July.
  • “We know that a food crisis is coming. It has already started to happen in Egypt, Kenya and other developed countries, then Nigeria. We need to protect Lagos in terms of food security because we will be on the receiving end.”

Ajenifuja said the agency had 7 centers across the state with branches in Epe, Ikorodu, Badagry, Ojo, Oko-Oba and Ajah.

To catch: Let’s remember that a few days ago, Nairametrics reported that LAISA had announced the start of sales of rice and soybean vegetable oil to interested buyers.

LAISA General Manager Mr. Bolaji Balogun, speaking about the agency’s activities, said that sales are taking place at its New Farm Service Oko-Oba Center, Gengeto Bus Stand, Abeokuta Road, Lagos.

In addition, he revealed that large quantities of 50kg rice and 1-3 liter soybean vegetable oil boxes are available at affordable prices to meet the demands of residents preparing for the festive period.

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