Over 70% of Rice in Nigerian markets are foreign- Investigations
…. Customs, CBN Reacts Despite concrete and visible interventions of the Central Bank of Nigeria (CBN) via the Anchors Borrowers Programme (ABP) on the rice sub-sector of the Nigerian economy, over seventy percent (70%) of rice in Nigeria markets are foreign or imported. Smuggled rice seized by Ogun Command In a three-week survey on the rice market across the six geopolitical zones in the country, Economic Confidential team observed that foreign rice such as Mama Gold, Royal Stallion, Rice Master, Caprice, Falcon Rice and Basmati are sold alongside Nigerian rice namely: Umza and Fursa Crown from Kano, Mama Happy from Niger, Labana Rice from Kebbi, Olam Rice from Nasarawa, Abakaliki Rice from Ebonyi, Ofada Rice from Ogun State, Swomen Dama from Plateau, Lake Rice of Lagos/Kebbi States among others. The Nigeria Customs Service (NCS) and the CBN have reacted to the latest report. Stakeholders in the rice subsector, namely, Rice Farmers Association of Nigeria (RIFAN), Rice Millers Assoc...