The Federal Government on Monday declared that the price of rice would start to fall from November this year. It stated that more Nigerians had returned to their various farms, adding that at the next harvesting season next month, the price of rice would start to crash.
This came as the government said that the delay in the approval of the 2016 budget had made it impossible to implement the capital expenditure in the agricultural sector.
The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, said this while addressing members of the Senate Committee on Agriculture and Rural Development at the headquarters of the ministry in Abuja.
Ogbeh, who stated that the government could not be involved in the importation of rice as speculated in some quarters, stressed that his ministry would not encourage rice importation because it would be detrimental to local production.