The price of rice has gone up astronomically, following the 100 per cent special levy imposed on the importation of the commodity by the Federal Government.
Yet, the duty on rice in other parts of West Africa is 10 per cent.
On January 1, this year, the Federal Government raised the Special Levy on imported parboiled rice from 40 per cent to 100 per cent. With the 10 per cent statutory duty on rice added to the figure, importers pay 110 per cent duty on importer rice.
A 50kg bag of Mama Gold, Royal umbrella, Carp rice, Tomato, Royal Stallion, Oriba, Indian parboiled, Special rice, Royal Crown sells for between N9,500 and N12, 000, depending on the market and the brand at some major markets in Lagos.
They include Daleko, Oshodi, Agege, Iyana-Ipaja, Igando, Iyana-Iba, Sura at Adeniji and Alaba Rago markets.
Most marketers said the increase in the levy has serious implications for the economy and Nigerians, whose major food is rice.
A trader at Daleko Market, Lagos,Mrs Medinah Abiodun, blamed the government for the increase.
Before the increase, Mrs Abiodun said a 50kg bag of rice sold for between N7,200 and N8,000.
A trader at Alaba Rago market, Mallam Audu Habeeb, said the rise in the cost of rice is affecting their business.
Those that are making gains, he said, are smugglers.“Those of us that are buying Nigerian rice are making less than N40 per bag while the smugglers are making as much as N350 and N400 per bag,” he said
