US Edition'We'll Keep Crashing Rice Price' - BUA Chairman Rabiu Warns Hoarders
- Abdul Samad Rabiu, Chairman of BUA Group, pledged on May 15, 2025, in Abuja to keep crashing rice prices following his meeting with President Tinubu.
- His commitment comes in response to the Tinubu administration’s July 2024 decision to temporarily lift import tariffs on food products as a measure to curb food inflation in Nigeria.
- BUA Foods imported large quantities of rice, wheat, and maize, which along with the Rice Millers Association’s efforts to prevent hoarding, helped lower prices significantly from last year's highs.
- Rice prices have dropped from approximately N110,000 to about N60,000 per 50 kg bag, and Rabiu mentioned that many individuals who stockpiled rice are now facing financial losses and regret.
- These developments suggest ongoing government-private sector collaboration could maintain food price stability and reduce inflation pressures on Nigeria’s 250 million people.
11 Articles
11 Articles
BUA vows to crash rice prices, says hoarders will lose money - Daily Trust
The Chairman of BUA Group, Abdul Samad Rabiu, says his company will crash the price of rice, warning that those hoarding the commodity will lose money. Addressing State House Correspondents after a meeting with President Bola Tinubu on Thursday at the presidential villa, Abuja, Rabiu said “Food prices are coming down in Nigeria and we’re doing a lot to support the effort of the present administration”. He also said he was already working with Al…
'We'll keep crashing rice price' - BUA Chairman Rabiu warns hoarders
Chairman of BUA Group, Abdul Samad Rabiu, has pledged to further crash the prices of rice and other food items, which he said have already decreased over the past year. This was as he lauded President Bola Tinubu for granting waiver on imported food items, stressing that his foresight helped slash food prices in the country. Recall that the Tinubu’s administration in July 2024, the announced the suspension of customs duties on imported food item…
We’ll keep crashing rice price, BUA Chairman warns hoarders - NewsTmes.com.ng
The Chairman of BUA Group, Abdul Samad Rabiu, has issued stern warnings to hoarders to expect further crash in prices of rice and other food items in the country. Speaking to State House Correspondents after meeting with President Tinubu on Thursday, Rabiu revealed that the drop in prices of food items over the past year … The post We’ll keep crashing rice price, BUA Chairman warns hoarders appeared first on NewsTmes.com.ng.
Rabiu blames 100% rice price surge on post-harvest hoarding
Chairman of BUA Group, Abdul Samad Rabiu, has identified hoarding as a key driver of food inflation in Nigeria’s rice market, citing how paddy rice bought at harvest for N400,000 is resold at N800,000 just months later. The post Rabiu blames 100% rice price surge on post-harvest hoarding appeared first on Nairametrics.
BUA vows to crash rice prices, says hoarders will lose money
The Chairman of BUA Group, Abdul Samad Rabiu, says his company will crash the price of rice, warning that those hoarding the commodity will lose money. Addressing State House Correspondents after a meeting with President Bola Tinubu on Thursday at the presidential villa, Abuja, Rabiu said “Food prices are coming down in Nigeria and we’re doing a lot to support the effort of the present administration”. He also said he was already working with A…
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