N476/N480 (updated 30.11.16:noon)
buying/selling naira exchange rates per USD
Tuesday, 11 October 2016

The Federal Government of Nigeria has urged Nigerians to not engage in panic buying of bags of rice as the commodity is set to take a price slash before the end of the year.

According to Agriculture minister, Audu Ogbeh who was speaking to the Senate Committee on Agriculture and Rural Development on Monday:
"We will not encourage rice importation and there is no way our ministry or government can be involved in importing rice when we are working hard to be self-sufficient in local production.

"By November when the full-scale harvest starts, rice prices will fall."
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