Thailand Gifts Nigeria 32-Tonne Rice Shipment to Tackle Food Crisis

The shipment, the first of its kind in a decade, has arrived in Lagos, according to DUCAT, the logistics company that facilitated its delivery.

The rice from Thailand was exported following Nigeria’s decision to implement a tariff moratorium on wheat, corn, rice, and other food crops last year, DUCAT revealed.

Although the duty waiver was introduced, purchases have largely been cautious, driven by concerns about its potentially harmful impact on local producers.

“Nigeria has been working hard to find solutions to broaden and strengthen its food supply accessibility,” DUCAT Chief Executive Officer, Mr Adrian Beciri said in a statement.

Several months ago, Nigeria unveiled a set of measures to combat soaring food inflation, which is rising at its fastest rate in three decades.

According to the last inflation update, food inflation reached 39.93 per cent year-on-year in November from 39.16 per cent the previous month in October 2024, caused by price rises for staples such as rice, maize, bread, potatoes and cooking oil.

Inflation quickened sharply in the second half of 2023 after President Bola Tinubu devalued the Naira and cut petrol and electricity subsidies to try to lift economic growth and shore up public finances.

Inflation has still not let up as it remained at 34 per cent as of November.

Many of the policies have failed to materialise including a 180-day window to allow duty-free imports of wheat, corn, and other critical food crops— a move promised would crash food prices.

A survey of market prices by Business Post indicates that food prices remained elevated during the last Christmas period.