Rice market of NigeriaAs per reports, there are indications that there is a move to recover some N30 billion lost to the rice import waiver granted by the last administration ‎is yet to settle, the attention of the country’s Senate is being‎attracted by another allegation of high level fraud in the business.‎ The Senate, may set up an ad-hoc committee when it resumes early next month to investigate the rice smuggling allegation believed to have made the country lose huge sums of money amounting to N117 billion.‎

Further, a motion to that effect is already being processed to be moved on the first week of resumption from the New Year break according to sources in the National Assembly. Some highly entrenched interests known in the rice industry are alleged to have sabotaged a riceShanti Agro Industries Pvt. Ltd. policy initiated by President Goodluck Jonathan to boost local rice production just to sustain their business interests.