What you should know 

• While the federal government has maintained a restrictive stance on rice importation, some Nigerians believe these measures could help lower food prices.
• Data from the National Bureau of Statistics (NBS) shows that food inflation in Nigeria has risen to 39.16% year-on-year.
• In response, the government waived import duties on certain food items like wheat, maize, brown rice, and beans to curb rising food prices.
• Nigeria’s rice production has surged to about five million metric tonnes as of 2023, this only covers roughly 60% of the country’s consumption needs.
• The shortfall has led to the illicit importation of rice, driving a significant price increase in the market.
• Between 2016 and 2023, rice prices have surged dramatically despite the government’s heavy investments, such as the N1.1 trillion Anchor Borrowers’ Programme, in rice production.