Empower rice millers to curb commodity inflation, food security – Labana GM

The General Manager of Labana Rice Mills, Alhassan Yusuf has called on the Federal Government to grant loans to rice millers to curb commodity inflation in the country. He said with the current situation of inflation in the country, rice millers,  corn, wheat and oil producers need urgent assistance with sufficient funds to enhance their […]

The General Manager of Labana Rice Mills, Alhassan Yusuf has called on the Federal Government to grant loans to rice millers to curb commodity inflation in the country.

He said with the current situation of inflation in the country, rice millers,  corn, wheat and oil producers need urgent assistance with sufficient funds to enhance their production capacity.

While briefing journalists in Birnin Kebbi, Kebbi State, he  urged the government to empower rice millers to produce at optimal capacity for the food security of Nigeria.

“Let the federal government assist millers with loans like it did previously. This time, the funds should be given to rice millers not individuals or organisations”, he said.

The GM said Labana is back in production with 2 to 3 trucks per day due to the current inflation of commodities.  “ 50kg  bag of rice which previously sold at N38,000 and N40, 000 now sells at N60,000  due to current inflation” he said.

He added that Labana has expended about N1bn on paddy rice.  But due to the scarcity of paddy the company has to depend on  the little it could get for its rice production.