The cost of rice is skyrocketing in Nigeria, and farmers can't keep up - Business Insider

Farmers are whacking at these giant piles of stalks for little tiny grains of rice.Since the Nigerian government shut its borders to rice imports, it's these farmers who have had to bear the burden of producing enough of the crop to feed the country.A 50-kilogram bag of rice costs nearly double what it did last July, before the borders were closed.Getty Images"Based on my budget of what I came to the market with, I couldn't afford it, so I have to buy in small quantity.

But after global oil prices plummeted in 2014, the government began to rethink its dependence on the resource and started investing in rice — a staple food consumed acrossIn August 2019, the country closed its land borders to boost local production and stop the inflow of foreign rice. Domestic output has gone up, but it hasn't come close to making up for the loss from imports.

"We don't have tractor, we have not been accessing fertilizer, we have not been accessing chemicals and all that. Even the harvester. We have not been accessing any, so our production is very low." While these farmers have made a little more money than usual, it hasn't been enough to purchase machines that could foster large-scale production.

Government policy always fucks things up. In every country everywhere. If people don’t have the money or brains to navigate the issues or be successful on their own they are in trouble.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Insider Intelligence - Business InsiderThe article was interesting, but the title... 🤦‍♂️🙅‍♂️ Divorce is never a good thing, it’s never a positive and should not be celebrated. That means one or both parties for whatever reason failed the other. sometimes they don;t even need any promotion at all ! Liberation , freedom is all they need !!
Source: BusinessInsider - 🏆 729. / 51 Read more »

The rise and fall of Pan Am - Business InsiderIn 1970 alone, Pan Am carried 11 million passengers to 86 countries worldwide. But after decades of financial turbulence, Pan Am went bust.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Jennifer Lopez and Alex Rodriguez Make Business Really SexyJennifer Lopez and Alex Rodriguez keeping it sexy for business meetings. Oh please. Like they “invented” the idea that sex sells? How young are you?
Source: TMZ - 🏆 379. / 59 Read more »

9 executives reveal their secrets for balancing a business and life - Business Insider'Want to know what's holding most people back? Someone's opinion of you mattering more to you than your opinion of yourself,' said Gary Vaynerchuk. theoracles WGAF theoracles That's the same thing we have to reveal for our success in jeffyskitchen as we balance quality life and quality living.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Pete Buttigieg Keeps Lying About His Support From Black Politicians and Business OwnersPete Buttigieg has a problem that he can’t seem to shake: he keeps lying about his support from black elected officials and black business owners, as part of his effort to improve his dismal polling numbers with black voters. ABC News reports that “in several instances... the Buttigieg campaign identified people as supporters who later said their interactions had either been misunderstood or misconstrued.”
Source: Jezebel - 🏆 153. / 63 Read more »