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'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 further lower rice and food prices after meeting President Tinubu.
- This follows President Tinubu’s July 2024 decision to temporarily waive import tariffs on food products to help reduce inflation, a policy that BUA Foods supported by bringing in large quantities of rice and other staples.
- Rabiu highlighted the Rice Millers Association’s effort to stop members from hoarding rice, which had previously inflated prices, and credited the president’s six-month duty waiver for reducing costs.
- Rice prices dropped from about ₦110,000 per 50 kg bag last year to around ₦60,000 today, benefiting 250 million Nigerians, while some hoarders are now losing money, Rabiu said.
- Rabiu affirmed BUA Group’s commitment to back the government’s reforms aimed at food security and economic growth, signaling strengthened public-private collaboration to stabilize and lower food costs.
12 Articles
12 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.
Nigeria’s Major Agribusiness Players Collaborating to Fight Food Inflation – Rabiu - AgroNigeria
Chairman of BUA Group, Abdul-Samad Rabiu, said Nigeria’s major agribusiness players are collaborating with President Bola Tinubu to fight food inflation by dismantling rice-hoarding cartels and freezing cement prices on public infrastructure projects. Speaking to State House Correspondents after a meeting with the President at the Aso Rock Villa on Thursday, Rabiu revealed that recent
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