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High Cost Of Rice In Christmas To Reduce Following Tinubu’s Order In July

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Experts believe President Bola Tinubu’s directive in July is going to have a ripple effect on the prices of foodstuffs this December.

Recall that in a state broadcast in July, Tinubu acknowledged the rising food prices in the country.

To this end, the president ordered the release of 200,000 Metric tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices.

He also ordered the cultivation of 150,000 hectares of rice with the budgeted N50 billion he earmarked from the N500 billion approved by the National Assembly to cushion the impact of fuel subsidy removal.

Depending on the variety of rice cultivated, reports say it takes between 3 and 6 months for a rice plant to reach maturity.

Five months after Tinubu’s directive and the reports about the commencement of rice cultivation in mid July, some analysts have posited that the high cost of the commodity will drastically reduce before the Christmas celebration as harvesting begins.

In a televised broadcast in July, Tinubu had said: “I have ordered the release of 200, 000 Metric Tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices.

“We are also providing 225, 000 metric tonnes of fertilizer, seedlings and other agricultural equipments.

“We are also providing 225, 000 metric tonnes of fertilizer, seedlings and other inputs to farmers.

“N200 billion out of the N500 billion approved by the NASS will be disbursed as FG:

“N50 billion each to be invested to cultivate 150, 000 hectares of rice & maize.

“N50 billion each will also be earmarked to cultivate 100, 000 hectares of wheat & cassava.”

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