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  • Rice has remained a staple in many homes across the world as a result of its affordability, quality, and ability to double its original size, making it a suitable feeding option for a very large family.

    With trade partnership's happening globally, rice has become one of the most exported food commodity across different counties and continents. China remains the worlds largest producer of rice, yet rice manufacturing isn't sufficient globally, especially in Africa.

    With the demand of rice exceeding the capacity of manufacturers to supply, this has increased the price of rice in the Nigerian market. Despite governments drive in establishing self sufficiency in rice production and supply to Nigerians, imported rice still enjoys over 60% of consumers demand.

    This low supply experienced in the Nigerian market that has led to over 78% increase in the price of rice could be artificial if not properly monitored by government. Some dubious Business men could horde products just to create artificial scarcity that will increase the price of rice in the market.

    The high demand of rice could also lead to its being adulterated. It takes about 6 months for rice to make it from planting to shops. To cover for the gap, dubious business men have resorted to adulterating the original rice with substances and materials.

    These dubious business men have realised that they could make huge profits from adulterating a 50kg bag of rice by 37% making it difficult for consumers to differentiate fake rice from the original rice. With this adulteration business, the business men smile to the bank, while consumers are likely to groan to the hospitals.

    Having realised the increasing demand for rice and the huge profit potentials it portends, dubious business men have turned this opportunity into a means to mislead consumers.

    The adulterated rice if permitted into the market posses a great threat to the well being of consumers in Nigeria.

    Government and regulatory agencies would have to sit up an guard consumers against these individuals. Citizens and consumers on the other hand have to educated on ways to identify fake rice from original rice.

    In the next article, we shall be educating consumers with unique steps that will in differentiating fake from original.

  • PRESS RELEASE NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery, Based on September 2024 Supply The NNPC Ltd. has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country. The estimated prices are based on negotiated terms between NNPC Ltd. and Dangote Refinery which recognise the current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the Petroleum Industry Act (PIA) 2021. The NNPC Ltd. can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024. We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public. Olufemi Soneye Chief Corporate Communications Officer NNPC Ltd. Abuja 16th September, 2024

     
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