LASG Moves To Prevent Hoarding, Sells Rice, Others  

The Lagos State Agricultural Inputs Supply Authority (LAISA) has started selling rice and other food stuffs at reduced prices to prevent hoarding and overpricing during the yuletide.
Assistant General Manager, Commercial, LAISA, Mr Jide Ajenifuja, made this known to The Tide’s source  in Lagos.
He said the sale is aimed at stabilising the market prices and not to take over businesses from traders in the market.
“In agribusiness, the moment government comes with the price, the suppliers and also those who are hoarding rice will want to increase the price.
“Now, the state government says a bag of rice is N37,000; we know that Christmas and also election are approaching, therefore, nobody will want to hoard it more than necessary.
“Long grain local rice cost N37,000 per 50kg bag, three litres of Soya bean oil cost N5,000 while one liter of Soya bean sells for N1,900,’’ he said.
The assistant general manager said that there was substantial products in stock and that LAISA would purchase more commodities with availability of funds.
He further said the commodities would be available till 2023 next year because of the election.
He stated that LAISA started the sale of  products at Oko-Oba, Agege, on Monday.
“We want to create the awareness that people can purchase rice and oil for the festive period at our office.
“People have started making orders, and we will start delivering them from Wednesday,” he said.
Ajenifuja, however, pointed out that the price of agricultural commodities is fluctuating due to inflation and other crisis globally.
“Last year, we sold rice between N24,000 and N26,000; even early this year, we sold rice  at N28,000. But now, it is N37,000 per 50kg.
“The price of agricultural commodities is fluctuating. Fertiliser for instance sold  for N7,000 between February and March, but it rose to N27,000 in June and July.
“We knew that there is a looming food crisis. It has already started happening in Egypt, Kenya and other developed countries than Nigeria.
“We sell fertiliser, agro-chemicals, cages and many more. Our primary responsibility is the sale of agricultural produce. We normally sell rice during Christmas”, he said.