Audu Ogbeh, who is the Minister of Agriculture and Rural Development, has assured Nigerians that the increasing prices of food items in the country will crash in a matter of weeks.
He specifically stated that the price of rice would reduce significantly within the next two weeks. He also disclosed his ministry’s intention to supply the Afe Babalola University, Ado Ekiti (ABUAD) with 20 tons of rice seedlings in the next planting season to boost rice production in the country.
Ogbeh, who stated this in Ado Ekiti at the weekend during his visit to ABUAD’s farm and the Ekiti State government, said the President Muhammadu Buhari administration would stop importation of rice this year.
Explaining government’s policy to stop importation of rice, Ogbeh hinted that the country has enough domestic production capacity that could sustain consumption and meet foreign exchange earnings that can guarantee diversification of the economy.
To further boost local production of rice and enhance the country’s comparative advantages in rice and yam production, Ogbeh said that the federal government will sign a memoranda of understanding with ABUAD and Ekiti government in the two sectors.