Expect further drop in prices of rice, other food items, BUA chair tells Nigérians – Newstrends
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Expect further drop in prices of rice, other food items, BUA chair tells Nigérians

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Expect further drop in prices of rice, other food items, BUA chair tells Nigérians 

 

Chairman of BUA Group, Abdul Samad Rabiu, has said Nigerians should expect a further crash in the prices of rice and other food items.

He commended President Bola Tinubu for granting waiver on imported food items, saying that this had helped crash food prices in the country.

In July 2024, the Tinubu administration announced the suspension of customs duties on imported food items to stem food inflation.

Speaking to State House Correspondents after meeting with President Tinubu on Thursday, Rabiu said BUA Foods keyed into that policy and was able to import quite a lot of wheat, maize and rice.

“At the time food prices were really very high last year. For example, the price of rice was about N100,000 or thereabout per 50 kilo bag. The flour was about N80,000 per bag and maize was about N60,000 per 50 kilo bag, and pasta above N20,000 per Carton. So what we did was, we keyed into that policy and BUA was able to import quite a lot of wheat, maize and rice.

“And the moment the shipment started coming, we started processing, we crushed the prices of some of these commodities. And today I’m happy to inform you that the price of rice is about N60,000 from what it was last year at N110,000. Flour is today N55,000 Naira per 50 kilo bag.

“Maize is about N30,000. And this happened because of Mr President’s foresight and vision by introducing that one-off duty waiver for a period of six months, and with that, we’ve been able to bring down the prices of these commodities,” Rabiu said.

The billionaire businessman further explained the causes of the food price increases and how the President’s policy helped to curb the trend.

“So, what has been happening and a lot of people probably don’t know this, is that Nigerians, a lot of companies in Nigeria usually buy a lot of paddy. That is rice paddy. Rice Paddy is what you use to process rice. So, the moment the harvest season starts, a lot of people will now buy a lot of these paddy and hold it for a period of three to four months. The moment the season finishes, then the price will double. So a lot of people don’t know that, but that has always been the problem.

“That does not really in any way affect the farmer, because the farmer is getting his four to N500,000 per ton of paddy. But the people that are buying and holding for three to four months, once the season finishes, it goes back up to N800,000. Hence why you are getting N110,000 per bag.

“So, what that intervention did at the time when we brought in was to create an issue for those hoarders. Because the moment we imported, we were selling, and those orders had a lot of paddy, they could not sell, and the price now came down, and it is still down.

So a lot of those holders are actually crying now and losing money.

He said that the Rice Millers Association has come together to address the issue of hoarding by some companies, adding that the association will not allow any of its members to hoard rice.

“What we are doing as rice Millers is that we want to ensure that rice Millers are not buying and hoarding Paddy, although at the end of the day, it’s quite difficult to stop that. But what is happening is that once they know that there is rice availability imported, because BUA has imported enough rice to last us until the end of the year, for example.

“So, they know that if they try to hot rice and try to take it up, Bucha is there and will crash the price. So I am hopeful that at the end of the day, the price of rice going forward is not going to go any higher than what it is today.

“And I’m sure as soon as the season starts, the farmers will get the price they’ve always gotten, and the price of rice is going to stay the same, because people will be wary of hoarding, because if they hoard it is going to be a problem for them, because they might lose money. So that is on rice.

“And again, let me use this opportunity to thank His Excellency, for his foresight, for his vision, because I actually didn’t see that. I didn’t know that that was going to work, but we keyed in. We imported and we have supported, and now prices are down. So that is what we did, and we will continue to do to support the efforts of the government to ensure that food prices continue to come down. And I’m sure prices will come down.

“It is quite interesting that when prices were quite high, N100,000 everybody was shouting, now that prices are down or are coming down, it is like, nobody is coming out to say, look, food prices are coming down, but I’m happy to say that food prices are coming down, and they will continue to come down. That is what BUA foods is doing to support the efforts of the government in ensuring that food prices are down,” Rabiu said.

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VeryDarkMan leads protest in school uniform over FCT teachers’ strike

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VeryDarkMan leads protest in school uniform over FCT teachers’ strike

Controversial activist and social media influencer, Martins Vincent Otse, popularly known as VeryDarkMan (VDM), staged a bold and theatrical protest on Monday, June 17, at the gates of the Federal Capital Territory (FCT) Minister’s office in Abuja, drawing national attention to the prolonged strike by primary school teachers in the FCT.

Dressed in a full school uniform and joined by a group of children similarly clad, VDM transformed the entrance of the minister’s office into a makeshift classroom.

The ongoing strike, which began on March 24, 2025, was launched by primary school teachers in protest against the refusal of Area Council Chairmen to implement the newly approved national minimum wage of N70,000. The teachers’ demands have so far been ignored, leaving thousands of pupils across the FCT without access to basic education.

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In a powerful display of civil disobedience, the influencer led the children in a mock lesson, reciting the alphabet loudly while highlighting the plight of pupils who have been out of school for over 90 days due to the strike.

“S for Suegbe, T for Tinubu, W for Wike,” he chanted, with the children loudly repeating after him, creating a spectacle that drew the attention of passersby and security operatives.

When approached by journalists for comments, VeryDarkMan declined to speak, maintaining that the premises of the Minister’s gate would remain the children’s new classroom until authorities addressed the issue.

At the time of filing this report, the children were seen having a lunch break of rice and chicken provided by VDM and his supporters.

The protest comes amid growing public frustration over the prolonged teachers’ strike, which has left thousands of schoolchildren stranded at home without access to formal education.

VeryDarkMan leads protest in school uniform over FCT teachers’ strike

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Final year student commits suicide in Ondo, police launch investigation

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Rufus Giwa Polytechnic

Final year student commits suicide in Ondo, police launch investigation

A 28-year-old final year student of Rufus Giwa Polytechnic, Owo (RUGIPO), Precious Arobo, has reportedly taken his own life in Ondo

Arobo, a Higher National Diploma (HND) II student, was found dead in a bush near his residence by local residents. Sources said he allegedly left behind a suicide note before hanging himself, although the exact circumstances surrounding his death remain unclear.

According to sources, the suicide note hinted at emotional distress believed to be related to a troubled relationship.

It was gathered that his grieving parents have since buried him, with friends and colleagues describing him as a kind and well-loved individual.

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“He has been buried, and the parents were heartbroken over his death,”.

Confirming the incident, the Ondo State Police Public Relations Officer, SP Ayanlade Olayinka, said the command has commenced an investigation and assured that the true cause of the suicide will be uncovered.

This tragic case came less than a year after a similar incident involving a female student of Adekunle Ajasin University, Akungba Akoko (AAUA), Modupe Ayandare, who also reportedly died by suicide after a church vigil.

Like Arobo, she was said to have left a suicide note before taking her life in an uncompleted building near the church.

Final year student commits suicide in Ondo, police launch investigation

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Protest in Lapai after gunmen killed IBB varsity student

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Ibrahim Badamasi Babangida University, Lapai

Protest in Lapai after gunmen killed IBB varsity student

The Niger State Police Command on Monday confirmed the death of Jafar, a 300-level student of Chemistry Education at Ibrahim Badamasi Babangida University, Lapai, who was murdered in his lodge during a suspected armed robbery attack.

Gunmen believed to be robbers invaded the students’ residence around the Ndakitabu area, directly opposite the university’s main gate along Lapai-Minna Road, at about 2:30 a.m. on June 23, 2025. The attackers stabbed the student in the neck before fleeing the scene.

Confirming the incident, the command’s spokesperson, SP Wasiu Abiodun, told newsmen that the case is being treated as a homicide.

“Today being June 23, 2025, at about 3am, information was received that at about 2.30am, some hoodlums attacked a student lodge at Ndakitabu area via Lapai,” he said.

Abiodun said the Police operatives of Lapai Division rushed to the scene, but the “suspected robbers had escaped”.

“Unfortunately, one Jafar was stabbed on the neck and he was rushed to the general hospital in Lapai where he was later confirmed dead.

“As a result, some students barricaded the Agaie-Lapai road, protesting against this incident.

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“However, tactical teams of the Command have been dispatched to Lapai to ensure that normalcy is restored, while investigation into the unfortunate incident has commenced as the Commissioner of Police directed that the perpetrators of this heinous crime must be arrested and brought to book.”

Following the killing, angry students staged protests and blocked major routes including the Lapai-Agaie and Lapai-Minna roads.

The protesters blamed the incident on alleged negligence and a lack of security measures from university authorities and relevant agencies.

Jafar’s killing came less than two weeks after the university dismissed growing concerns of insecurity raised by students, including claims of rape and robbery.

In a statement dated June 12, 2025, titled “Attack on IBBUL Students: Disclaimer and Notice,” the Deputy Registrar (Information), Alhaji Baba Akote, dismissed the reports as false and deliberately misleading.

“The management of Ibrahim Badamasi Babangida University, Lapai wishes to categorically distant itself from the false and misleading information currently circulating on social media regarding alleged attacks and rape incidents involving students of the institution.

“The malicious narrative, sponsored by certain individuals with questionable intentions, appears to be aimed at causing panic, misinforming the public, and tarnishing the image of the university.

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“Members of the general public and academic community are advised to disregard the unfounded information and refrain from spreading unverified or emotionally charged content, especially when it touches on sensitive issues such as security and student welfare.

“The university is actively collaborating with relevant security agencies to investigate and fish out those behind the mischievous publications to bring the perpetrators to book.

“IBB University, Lapai Management reaffirms its commitment to the safety and well-being of the students.

“Students are therefore, urged to always report security-related concerns to the University authority or the nearest police station for prompt action.

“Let it be known that the university does not condone any form of criminal activity and will continue to work with all relevant stakeholders to ensure a conducive learning environment for its students.

“Members of the general public, especially users of social media, are encouraged to verify all information before sharing it on any medium and avoid sensationalism, as such actions only fuel unnecessary fear and confusion.

“Any person found to be directly or indirectly involved in any form of crime will be dealt with accordingly,” the statement read.

Protest in Lapai after gunmen killed IBB varsity student

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