Nigerian Senate Moves to Slash $2bn Rice Import Bill, Establish National Rice Council

The Nigerian Senate is pushing to cut the $2 billion rice import bill by setting up a National Rice Council to enhance local production and food self-sufficiency. Sponsored by Senator Adamu Aliero, the bill seeks to coordinate research, regulate product standards, support farmers, and promote innovation in the rice value chain.

The move aligns with President Bola Tinubu's agricultural transformation agenda. The initiative is expected to create millions of jobs, reduce foreign exchange spending, and elevate Nigerian farmers from subsistence to commercial status.