Lagos Explains Why Selling Rice And Vegetable Oil

Lagos Explains The Benefits of Selling Rice And Vegetable Oil To Consumers Directly

The Lagos State Government has stated its justifications for beginning this yuletide season with direct sales of rice, vegetable oil, and other food goods to people.

To avoid hoarding and overpricing over the yuletide season, the state government began selling these items to residents at lower costs through the Lagos State Agricultural Inputs Supply Authority (LAISA).

REMEMBER: Lagos Provides Agricultural Inputs To 3,000 Farmers. In accordance with the activation plan for the agricultural value chain company, the Lagos state government provided agricultural production assets and inputs to 3,000 agricultural companies. Now, Lagos is planning of selling rice and vegetable oil to consumers directly at yuletide.

This was announced by Jide Ajenifuja, assistant general manager, commercial, LAISA, on Tuesday in Lagos, according to the News Agency of Nigeria (NAN).

According to Ajenifuja, the sale is intended to stabilise market prices rather than displacing market traders’ businesses.

Attempts to stop hoarding Says Ajenifuja:

“In agribusiness, the moment government comes with the price, the suppliers and those who are hoarding rice will want to increase the price.

A bag of rice costs N50,000 or more in Abuja right now. Now that the state government has set the price of a bag of rice at N37,000, nobody will want to hoard it for longer than is necessary because we know that Christmas and the elections are coming up. A 50 kg bag of local long grain rice is N37,000, while three litres of soy oil are N5,000 and one litre of soy beans are N1,900.

accessible until 2023: There are enough products in stock, according to the assistant general manager, and LAISA will add more items as funds become available.

Furthermore, he said that due to the elections, the commodities would be available until 2023, and he added that the agency had started selling these food items at Oko-Oba, Agege, on Monday.

People have begun placing orders, and we will begin delivering them starting on Wednesday, he said, adding, “We want to raise awareness that people can get rice and oil for the festival period at our office. However, Ajenifuja emphasised that there are various worldwide challenges, including inflation, that are causing price fluctuations for agricultural commodities.

“We sold rice between N24,000 to N26,000 last year, and even early this year, we did so,” he continued. However, it is currently N37,000 for 50 kilogramme.

“Agricultural commodities’ pricing are erratic. For instance, the price of fertiliser increased from N7,000 in February and March to N27,000 in June and July.

“We are aware of the impending food crisis. Egypt, Kenya, and other developed nations have previously experienced it, followed by Nigeria. We must ensure the food security of Lagos because we will be the ones who suffer.
According to Ajenifuja, the agency has branches in Epe, Ikorodu, Badagry, Ojo, Oko-Oba, and Ajah as well as 7 centres spread out across the state.

Speaking about the agency’s activities, LAISA’s general manager, Mr. Bolaji Balogun, stated that sales are being held at the agency’s New Farm Service Oko-Oba Centre near the Gengeto Bus Stop on the Abeokuta Road in Lagos.

He also mentioned that significant quantities of 50 kg of rice and cartons of soya vegetable oil in sizes ranging from one to three litres are available at reasonable costs to satisfy the needs of locals gearing up for the holiday season.