An economist, Dr Edward Julius, has faulted the promise by the federal government to the effect that the price of rice would start falling from this November.
Julius who is also a price flow analyst in an interview with The Tide yesterday in Port Harcourt said Nigeria was not a major producer of rice.
According to him, November was already gone as far as agricultural indices were concerned.
He explained that banning rice importation was not a panacea for price fall as the poor economy has given rise to unhealthy business activities at the country’s borders.
Julius who claimed to be an advocate of accelerated rice farm establishment in selected zones of the country, however, advised that government should steer clear of agric projects that were capital intensive.
“Developmental agriculture is handled by individuals that are business farmers, not government or its agencies”, he said.
It would be recalled that the Federal government in the past assured that the price of rice will start crashing from November, 2016.
The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, made the statement while addressing members of the Senate Committee on Agriculture and Rural Development last month.
Although the minister hinged his hope on rice farmers, the price of rice has since not dropped.