Price Of Rice Expected To Drop Soon

The Nigerian food staple, the humble yet essential rice, has been gradually becoming so expensive that now buyers are expected to pay as much as ?20,000 for a standard bag. However, this situation is expected to change very soon as the new rice production company led by Aliko Dangote is expected to hit the market.


Dangote Rice is an absolutely new brand, but Aliko Dangote is no stranger to the Nigerian economy – not only is he one of the few Nigerian billionaires, but he is also believed to be the richest man in Africa. Despite his wealth, Dangote understands the struggles of people who are forced to look for alternative ways to feed their families due to the constantly rising prices for rice. One of the key reasons for the growing prices is the lack of rice production in the country and the need to import the rice from out of the state, which is exactly the problem Dangote Rice is expected to solve.


The rice project by Dangote started earlier this year. It involved giving rice seedlings to farmers in the region of Hadeija, Jigawa, that were to be planted in an 8,000 hectare field. As the company prepares to harvest its first crop, Aliko Dangote is said to be ecstatic, because, given that everything goes well, the new development in the rice business will not only cover the rice shortage and help drop the prices, but will also provide jobs to up to 10,000 of Nigerians who are currently unemployed.