Border Closure: We’re Set To Crash Price Of 50kg Bag Of Rice To N14, 000
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The Chairman and Chief Executive Officer, Santuscom Agro-Hub Investment Nigeria Limited, producers of Ogoja Rice, Chief Paul Santus, on Tuesday, disclosed to sharply crash price of 50 kilogram bag of its Ogoja Rice brand to N14, 000 ahead of the Christmas and New Year celebrations despite closure of land borders by the Federal Government.
Santus made the disclosure while speaking in a chat with Vanguard on the effort made by his company to take up the challenge by the closure of land borders, which his company has scaled up production of Ogoja Rice brand locally produced in O’akwa-Okpoma, Yala Local Government Area of Cross River State.
According to him, Nigerians should not panic ahead of the festive period because all has been put in place to meet their demands against the backdrop of the skyrocketing price of the commodity in markets across the country, especially after the closure of borders by the government.
It would be recalled that prices of the commodity have risen to as much as N18, 000 to N22, 000 following the recent closure of land borders by the Federal Government.
He said: “We in Santuscom Agro-hub Investment Nigeria Limited, producers of the popular Ogoja Rice brand is concerned with the skyrocketing price of rice after the closure of land borders by the federal government.
“We want Nigerians to understand the action by the government and notwithstanding we want to assure Nigerians that as a company we will do everything possible before the Christmas and New Year celebrations to crash the prevailing and current market price of rice as we will be selling at N14, 000 per 50 kilogram bag of rice anytime from now.
“We will soon flood the market with the popular Ogoja Rice which will in turn drastically reduce the current prevailing price in the market.
“Everything is ready for us to commence serious production of high quality and stone-free Ogoja Rice that would be very affordable and accessible by consumers in any part of Nigeria.”
Meanwhile, he said there are over 1, 000 hectares of rice farm ready to be harvested anytime from now to add to the current production of the commodity.
“We have the capacity to crash the price because we have huge tonnes of paddy rice and high milling capacity from the rice mills we run.
“The company is set to crash the price of rice with the 1,000 hectares of rice farm that is ready for harvest anytime from now in O’akwa in Okpoma, Yala Local Government Area of Cross River State. We will begin production in earnest”, he added.
