The Lagos State Agricultural Inputs Supply Authority (LAISA) has started selling rice and other agricultural commodities at a reduced price to prevent hoarding and overpricing during the yuletide.
Mr Jide Ajenifuja, Assistant General Manager, Commercial, LAISA, made this known in Lagos on Tuesday.
He said that the sale was aimed at stabilising the market price and not take over business from traders in the market.
“In agribusiness, the moment government comes with the price, the suppliers and also those who are hoarding rice will want to increase the price.
“In Abuja now, a bag of rice is going for about N50, 000 and above.
“Now the state government said a bag of rice is N37, 000; we know that Christmas and also election is approaching, therefore, nobody will want to hoard it more than necessary.
“Long grain local rice cost N37, 000 per 50kg bag, three liters of Soya bean Oil cost N5, 000 while one liter of Soya bean sells for N1,900,’’ he said.
The assistant general manager said that there was substantial products in stock and that LAISA would purchase more commodities with availability of funds.
He further said that the commodities would be available till 2023 next year.
He added that the effort of the LAISA was to stabilise the price and prevent hoarding of agricultural commodities.
“The sales will be on till the end of the year or go beyond that because of the election.
We are kick starting with Oko-Oba, Agege, we started yesterday, Nov. 21.
We just want to create the awareness that they can purchase their rice and oil for the festive period at our office.
“People have started making orders, and we will start delivering they from Wednesday.
People are ordering 100 bags, 150 bags and we did that till late night on Monday.
“Individual too have started taking advantage of the opportunity since Monday,” he said.
The AGM noted that price of agricultural commodities were fluctuating due to inflation and over crisis globally.
“Last year we sold rice between N24,000 and N26,000 and even early this year, we sold rice N28,000.
“But now, it is N37,000 per 50kg.
“The price of agricultural commodities are fluctuating, like fertiliser for instance, at the beginning of this year, around February, March, we sold it N7,000 only for it to jump to N27,000 by June, July.
“We knew that there is an impending food crisis looming. It has already started happening in Egypt, Kenya and other developed countries than Nigeria.
“We need to secure Lagos in terms of food security because we will be on the receiving end,” he said.
Ajenifuja said that the agency has seven centres across the state and urged residents to visit the centres for their agricultural commodities.
“We sell fertiliser, agro-chemicals, cages and many more.
“We have branches in seven location, Epe, Ikorodu, Badagry, Ojo, Oko-Oba, Ajah,
“Our primaary responsibility is the sale of agricultural produce. We normally sale rice during Christmas.
“Our Imota rice mill will be rolling out soon but 0 until then, we will continue to supply rice at affordable price to residents of the state,” he noted.
He said the agency plan to decentralise the sale the commodities to residents in other local government areas soon.
“We will be taking it to our centre in Ikorodu soon as soon as it is approved.
