The Lagos State Government says it has subsided the lake rice brand to the tune of N1billion Naira since it rolled out in December 2016 till date.
The Commissioner for Agriculture, Mr Toyin Suarau, stated this at the 2018 Ministerial Press Briefing to commemorate the third year of Governor Akinwumi Ambode, in office.
Mr. Suarau said the subsidy included cost of transportation, bagging and difference in cost of production, which had helped to checkmate the ever increasing cost of rice.
The commissioner said that the state spent a total of N4.5 billion on the purchase of lake rice.
He said currently over 150 marketers and other ancillary service providers had been empowered through the sale of the product.
The commissioner also revealed that the state was in completing the process of establishing a 32 tonnes per hour rice mill at Imota, projected to produce 2.6 million 50kg bags of rice.
He said: “The state just signed an agreement with the Buhler AG, a leading rice mill manufacturer in the world for acquisition of the equipment.
“It is projected that when completed, the mill will produce an estimated 130 million kilogrammes of processed rice per year, which is 2.6 million 50kg bags of rice.
“The mill will require the cultivation of 32,000 hectares of land for paddy supply which will provide a platform for the state to partner with other South-West states in rice cultivation,’’ he said.
The ministerial briefing was organised by the state ministry of Information to commemorate Gov. Akinwumi Ambode-led administration’s three years in office.
The Commissioner for Information, Mr Kehinde Bamigbetan said that the state was determined to ensure Lagosians were well fed.