Lagos releases 40,000 cheap Eko rice into markets as Christmas knocks

The Lagos State government has announced that Eko Rice will be available for residents during the upcoming festive season, with a commitment to release over 40,000 bags into the market before Christmas.

Oluwarotimi Fashola, the Special Adviser to the Governor on Agriculture, shared this information with the press during a visit to the Lagos Rice Mill in Imota, Lagos State.

Fashola, guiding journalists through the mill's operations, revealed that 20,000 bags have been distributed in the state since November. He further disclosed that 20,000 bags would be supplied before Christmas, emphasizing the ongoing daily production.

Fashola clarified that the state does not directly sell the rice and the responsibility for sales lies with the Lagos Commodities and Futures Exchange (LCFE).

Regarding pricing, he clarified that the LCFE determines the rates based on paddy costs, highlighting that the current price ranges between 43,000 and 45,000 for a 50kg bag and 22,000 for a 25kg bag from the Imota Rice Mill, with no additional logistics charges.

Fashola also indicated that residents in the state have the option to purchase Eko Rice through the Lagos Commodities and Futures Exchange (LCFE) or major rice markets such as Daleko in Mushin, Ketu, Ikorodu, and others.

Furthermore, he mentioned that arrangements have been made for civil servants and public servants to acquire the rice from the Lagos State Inputs Supply Authority (LAISA) at Alausa.