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The rice crisis

Government plans to spend N80 billion to import rice at a time when fertilisers are going beyond the reach of the farmer despite N21 billion spent on subsidies in six years.

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Food, and the African crisis of leadership
Written by with Garba Deen Mohammed   
Sunday, 04 May 2008

While Nigeria debates how many metric tones of rice it would import as part of its preparation for what has become the world’s latest affliction, Thailand, a country half the population of Nigeria is already plotting on how to cash-in on the situation. Two days ago the BBC reported that the South-East Asian nation is planning to lead the formation of an OPEC-like cartel for rice exporters. Where the rest of the world is seeing red, the Thais see opportunity: as the world’s leading exporter of rice they reckon, rationally, that with the price and demand for rice at an all-time high, now’s the best time for them to exert their dominance and reap maximum returns for their labour. And why not? OPEC Itself came into being as an opportunistic response to a similar situation back in the early 70s.

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Last Updated ( Sunday, 04 May 2008 )
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