Rice Prices Drop in Lagos: Farmers Predict Further Cuts Amid Government Intervention

The price of rice has decreased in Lagos and other major cities, with Lagos State selling at N57,000 per 50kg bag. This move has excited consumers and stakeholders, leading to predictions of further price cuts by farmers.

The Lagos State Government's decision to slash prices is seen as a significant win for consumers in the local market. Farmer associations believe this intervention will create a ripple effect across the market, forcing competitors to adjust prices.

Raphael Hunsa and Sakin Agbayewa have praised the government's proactive policy-making to lower food costs and support local agriculture, aiming for better food security and increased production.