FG urged to maintain policy on rice importation

The Federal Government has been urged to maintain its position on the ban on rice importation in to the country through the land borders and encourage more rice farming and processing across the country.

Former Minister of Commerce and Industry and one-time President of Manufactures Association of Nigeria (MAN), Engineer Charles Ugwuh, made the appeal during the week when members of Finance Correspondents Association of Nigeria (FICAN) and Business Editors visited his rice milling industry in Ikwo Local Government Area of Ebonyi State as part of CBN sponsored programme to the state.

Ugwu urged the Federal Government not to yield to the pressure of allowing imported rice into the country through the land borders, alleging that there were pressure from India, China and other major rice producing countries around the world to force the government allow massively importation of rice into the country at a lower rate.

“The Federal Government must not change the fiscal policy on rice importation. Federal Government should stay with the ban of importation of rice and let’s find ways to encourage more people to key into agriculture. I can assure you that price of rice will definitely drop when more farmers are encouraged.

“If FG changes the policy now and allow the Indians that are lobbying them, boasting of 20 million tonnes at $200,000 per tonne it will be suicidal.”

Ugwu explained that the price of local price in high now because the cultivation of the food item is still seasonal. “The good thing is that in next cycle, when people have seen those that have made money through the Anchor Borrowers Program, more farmers will join the program and by next cycle, there will be an oversupply,” he said.