Christmas Bounty: Lagos Govt Reveals Plan To Release 40,000 Bags Of Eko Rice Into Markets

Eko Hot Blog reports that the Lagos State government has unveiled its plan for residents to savor Eko Rice this festive season, with no less than 40,000 bags set to hit the market before Christmas

Special Adviser to the Governor on Agriculture, Oluwarotimi Fashola  disclosed this while speaking with newsmen during a tour of the Lagos Rice Mill in Imota, Lagos State.

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Fashola who led newsmen round the mill to witness the operations around the mill explained that from November till date 20,000 bags have been released to the markets in the state and that between now and Christmas, another 20,000 bags will be going out, as production is going on, on a daily basis.

He said that the state do not sell the rice directly but that the Lagos Commodities and Futures Exchange (LCFE) are the ones responsible for that.

Governor Babajide Sanwo-Olu And other dignitaries during the launching of the Rice Mill

“We do not sell rice directly we are in partnership with the Lagos commodities and futures exchange. They are the owner of our rice, let me put it that way because the partnership we have with them is that they pay the suppliers of the paddy and distributors of the head rice equally pays to them.

“So more or less what we are is that we are the operating room that facilitate that activity to happen and that is a major investment or partnership between private and public sector which Mr. Governor has made possible.

“You cannot buy outside commodities exchange, the partnership is such that they are the only one that sells the rice. It is the first time in this nation that a public company is in partnership with a private sector for a smooth operations of its system,”

On pricing, he explained that the LCFE determines the prices based on the cost of the paddy, stressing that the currently the price is between 43,000 and 45,000 for 50kg bag and 22,000 for that 25kg bag from the Rice Mill in Imota, that logistics price is not added.

Former President, Muhammadu Buhari on a Tour of the Imota Rice Mill During the Official Launching Ceremony

Fashola also stated that residents of the state can purchase the Eko Rice through the Lagos Commodities and Futures Exchange (LCFE), and that they can purchase the rice from the major rice markets which include; Daleko in Mushin, Ketu, Ikorodu among others.

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He said that provisions has been made for the civil servants and the public servants, to buy from the Lagos State Inputs Supply Authority (LAISA) at Alausa.

“LAISA pay to the commodities and sell within Alausa, strictly to civil servants and public servants, but the public can buy from the designated distributors in the various markets.

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