Governor Babajide Sanwo-Olu has unveiled a new pricing initiative for Eko Rice, Lagos State’s locally milled rice brand, setting the cost at ₦57,000 per 50kg bag. The announcement was made during a public presentation at the Imota Rice Mill, one of Africa’s largest rice processing facilities.
Sanwo-Olu explained that the initiative is part of his administration’s strategy to make staple foods more affordable amid Nigeria’s ongoing inflation crisis. He noted that the Imota Rice Mill has the capacity to process 32 metric tonnes of rice per hour, enabling Lagos to meet a significant portion of its local demand.
“We are determined to ensure Lagosians have access to quality, affordable rice produced right here in our state. This is about food security, job creation, and reducing dependence on imports,” the governor said.
Context and Implications (woven into the narrative)
The pricing of Lagos rice at ₦57,000 per 50kg comes at a time when imported rice brands are selling for ₦65,000–₦70,000, making the state-produced option relatively cheaper. Analysts say the move could stabilize rice prices, encourage patronage of local products, and reduce pressure on foreign exchange reserves.
Beyond affordability, the initiative highlights Lagos’s ambition to become a hub for agro-processing and food security. By leveraging the Imota Rice Mill, the state is not only addressing immediate consumer needs but also positioning itself as a model for other states seeking to boost local production.
However, experts caution that sustained affordability will depend on consistent supply, distribution efficiency, and protection against middlemen markups. If managed well, Lagos rice could become a benchmark for Nigeria’s broader agricultural transformation agenda.
Sources:
