By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Bag Of Rice Could Be Sold For N40,000 By December – Agric Minister, Heineken
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Bag Of Rice Could Be Sold For N40,000 By December – Agric Minister, Heineken

Gbolahan Adeyemi
By Gbolahan Adeyemi
Published: September 11, 2016
Share
1 Min Read
SHARE


The Minister of State for Agriculture and Rural Development, Senator Heineken Lokpobiri, has said that Nigeria spends about $22bn a year on importation of food.

Lokpobiri made this known on Saturday at a town hall meeting in Yenagoa, Bayelsa State.

He said the development had led to the astronomical rise in price of rice and other commodities, stressing that if Nigerians failed to produce some of the items being imported, before December the price of rice would skyrocket to N40,000 a bag.

He said there was a projection made that by 2050, Nigeria’s population would be 450 million, wondering what would happen then if the people could not feed themselves now.

- Advertisement -

Lokpobiri said, “For your information, we spend about $22bn a year importing food into Nigeria. We know how many more dollars … and that is why you see the price of rice going up.

“Price of rice was N12,000 some months ago, but it is now about N26,000 and if we don’t start producing, by December it could be N40,000.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByGbolahan Adeyemi
Entertainment News writer
Follow:
Gbolahan Adeyemi is a writer for Okay Nigeria. A budding individual with the strive to share and inform the masses with contents relating to their beliefs, lifestyle and all about the entertainment.
Previous Article Kaduna State Government Sympathises With Residents Over Earth Tremor
Next Article Waje, Yvonne Okoro, Van Vicker & More On Fleek On The Red at Glitz Awards 2016

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Olubunmi Tunji-Ojo
FG Hails Success of E-Visa System, Processes Over 14,000 Applications in Six Weeks
News
Google Releases June 2025 Core Update
Tech
NELFUND
NELFund Warns Students Against Fake Loan Portal, Urges Caution Over Fraudulent Links
Education
Tinubu and Saint Lucia’s Prime Minister Agree to Establish Formal Diplomatic Relations
International
Ali Bukar Dalori
Ali Bukar Dalori Assumes Role as APC Acting National Chairman After Ganduje’s Resignation
Politics
- Advertisement -
Ad imageAd image

You May Also Like

MI Abaga
Celebrities

MI Abaga Expresses Regret Over Past Support for APC

Damilola A.
Damilola A.
June 30, 2025
Senator Natasha Akpoti-Uduaghan
NewsTop stories

JUST IN: Court Grants Senator Natasha Akpoti-Uduaghan Bail on Self-Recognition

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
News

Anambra State Orders Investigation After Viral Video Shows Possible Anti-Touting Squad Excesses

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?