Lagos Spends N1.4Billion To Subsidize Lake Rice

Lagos State Government on Thursday said it has subsidized LAKE Rice to the tune of N1.049billion from December 2016 till date, as part of efforts aimed at sustaining food sufficiency and food security in the State.

Speaking at the ongoing annual Ministerial Press Briefing to mark the third anniversary of Governor Akinwunmi Ambode’s administration held at Bagauda Kaltho Press Centre in Alausa, Commissioner for Agriculture, Mr. Oluwatoyin Suarau said that LAKE Rice, which is being sold at a highly subsidized rate of N12,000 per bag of 50kg, has helped crashed the skyrocketing price of rice in the country.

“The State Government has subsidized LAKE Rice under this review period with One Billion, Forty Nine Million, One Hundred and Forty Thousand, Three Hundred and Ninety Five Naira (N1,049,140,395.00). This is targeted towards ensuring food sustainability and food security in the state and as an end result, making Lake Rice a national brand,” he said.