Headlines
Rice: The New Edible Gold
By Eric Elezuo
About two months ago, the President Muhammadu Buhari led Federal Government ordered the closure of the nation’s borders, the Seme border inclusive. His reasons were bordered on the desire to stop the proliferation of small arms and illegal smuggling of food items, especially rice and frozen foods. Ever since then, rice, which hitherto has been Nigeria’s staple food, has become a luxurious commodity as its rice has hit the roof. Since the shutdown, the cost of a bag of imported rice has reportedly jumped by over 40% – from N14,000/15,000 to N21,000/23,000.
In the midst of the complains, the Nigerian government has maintained that its borders would remain closed until neighbouring countries begin to respect Nigeria’s policy on food importation. This notice has elicited negative reactions from neighbouring countries. Niger Republic for one has banned both importation and exportation of good from and to Nigeria; Ghana has cried out, inferring intimidation as they claimed Nigeria goods continue to enter the soil of Ghana while Ghana goods are not allowed to enter Nigeria among other complaints.
Comptroller-General of Customs, Hammed Ali, who spoke for the FG disclosed this when he visited Maigatari border in Jigawa State.
“Most of the criminals are not citizens of Nigeria. They come in at will and go out at will because our borders are so porous. They come and create havoc and disappear.
“This is why the President directed that we should go on and embark on this drill to ensure that we put into place a proper procedure for in and outflow of people.
“We must also get our neighbours to agree with us on the protocols of transit routes.”
He concluded his briefing with a line which many Nigerians considered hilarious. He said “Nigeria has enough food”, stressing that the country will ensure its borders are no longer porous.
Meanwhile, in towns, creeks, hinterlands and remote parts of the country, homes and families lament the adverse effect of the border closure as rice, the staple food of most Nigerian homes, has gone beyond the reach of not a few families.
The Boss investigation reveals that the Seme Border along the Badagry Expressway, has remained firmly under lock and key with security agencies, especially heavily armed military personnel and customs official parading the vicinity. A Seme border source said the security continue to apprehend dire devil smugglers and seizing their merchandise.
Most traders that ply the route complained the unfair treatment of the government in locking down borders, thereby depriving them of legitimate means of livelihood.
“I am a rice dealer. I buy from across the border and move them in legitimately, clearing through customs and other relevant agencies before getting passage. I know there are other criminals in the business who are not involved in the business of legitimacy. But the government should not have punished everybody for the sin of a few,” the trader, who identified himself simply as Ossy said.
He hinted that as a family man, he has been rendered unproductive, and things have become so terrible.
“At the moment, I can hardly feed my family, and swapping to a new kind of business has not been easy. The government should as a matter of urgency review the policy that necessitated the closure.
The trader argued that as a government, there should be a way of handling and dealing with criminally minded people without punishing the general public.
Mr Okechukwu Nwaibe is a transporter, who ply the Badagry/Seme route to take traders to and fro their businesses. He lamented that for the two months the border has been on lock down, he has not earned a coin. This is as activities of traders along the route has not only reduced but has become non-existent. He told The Boss in a voice full of emotion that life has become very unbearable.
It is not only those that ply their trade along the route that are complaining; the consumers of the grain, whose homes have been stripped of their staple food are lamenting more than loudly.
Rice is one food Nigerians keep in the house both for sustenance and emergency purposes. This is because it can be cooked with next to nothing and enjoyed on a low key and one will still be satisfied. The way the food come in handy when needed has made it the food of choice in most average Nigerian homes. Some consume it on a daily triangular basis, and that explains the reason behind the biting scourge as it has suddenly becomes scarce.
Hear Ladeinde Adegoke who works with a privately owned firm:
“I have three children, and if you add my wife, my wife’s niece staying with us and myself, that makes it six mouths to feed. I earn N60, 000 salary on a monthly basis with nothing else attached; no bonus of any kind irrespective of the season. So I have always managed to get a bag of rice for the family to manage on a monthly basis, but now, it has become something else. The price, if you ever find the product, is not affordable. This is what children takes to school every morning, and it has become increasingly difficult to sustain the family. The government is practically taking us back to the early days of Buhari when people had to buy a bag of rice for as high as N25,000,” he said.
Mr Adegoke’s story is the same in virtually every average Nigerian home. Most workers, who are on N100,000 salary and below has been on the receiving end. Even high profile businessmen are not spared as the spiraling effect continue to trickle down.
The Boss’ trip to the Okoko market on the Badagry Expressway where rice sellers converge was met with silence and forlorn faces. Most of the traders said they can no longer find the product to sell, and those who managed to get it has put the price beyond reach.
“As you can see, my shop is empty; I doubt if there is a better reason for closing the border if not to subject the common Nigerians to perpetual suffering. Can you imagine that Customs officials even raided over stores, where we used to pack the products, and carted away consignments in our possession. These were goods we had long before the borders were closed. Honestly, I don’t believe the government is checking anything; they just want to put us through unbearable hardship,” Mama Blessed, a rice seller said.
A very angry respondent, who refused to volunteer his name said “please help me ask them which rice Buhari, Oshiomhole and all of them eat in their homes. This is pure hypocrisy.”
In the meantime, the Economic Community of West African States (ECOWAS) has appealed to the Nigerian government to reopen the borders, even as the Chairman of the ruling All Progressives Congress (APC), Comrade Adams Oshiomhole, has said that the borders will not be opened until certain ‘measures’ are put in place.
The ECOWAS warned that the partial closing of border crossings to Benin and Niger, which prevents the free movement of people, is a violation of agreements signed by Nigeria.
“The closure of the Nigerian borders with Benin more than a month ago, and [with] Niger more recently, [are] a hindrance to the achievement of the Community’s main objective, which is to achieve the creation of a prosperous, borderless West African region where peace and harmony prevail,” the speaker of the Parliament, Moustapha Cisse Lo, said.
It is on record that President Muhammadu Buhari made agriculture and food surplus a policy of his administration on assumption in 2015. This, the government believe will reduce dependence on crude oil and create other means of obtaining foreign exchange. Also, rice and palm oil have been the agricultural product with the greater consideration.
But much as records show that there is increase in local rice production, as reflected between 2013 and 2017, there seems not to be enough to meet the demand of the over 200 million population.
The inability to meet up in addition to stringent import control measures, have kept the price of rice high and led to rampant smuggling of rice across borders.
But while the Nigerian government maintained that the border closure is yielding results, impounding bags of imported rice, Nigerians are asking to whom are the results beneficial.
Speaking to some Nigerians who said they are also feeling the pangs of the border closure, the Boss discovered that some are willing to see the end of the closure and what it portends.
“I think it is a good venture if the intentions are pure. This is because we need a check of this nature because we import almost everything we use in this country including things we can easily produce. Maybe, we will endure the suffering for a few more weeks and then, we fall back to our own products,” Frank Onyeije reasoned.
But in his reaction, the President, Nigeria-Slovakia Chambers of Commerce, Mr. Vitalis Njoku, said the closure would have made more sense if it was all encompassing, and not restricted to the Seme Border, and later to the border connecting Niger Republic. He reiterated that while these borders remained manned because they are structured, other borders are working at full force with little or no restriction.
He was of the view that there is no economic sense in closing borders to stop smuggling or the likes when there is not enough commodity for the populace, saying there can be two reasons for the closure 1. the need to impoverish a certain class of Nigerians and 2. to further enrich a certain class of Nigerians.
“It is laughable to say that the government closed the borders to improve the economy; which economy? There is hardly something you can call economy in this country. The closure as far as I am concerned is a calculated attempt to enrich some and impoverish some. Right now, the prices of food have sky-rocked. This is not about rice. Almost every product…everyone blames the hike in products to ‘closure of border’ and the ordinary man is paying through his nose to buy essentials,” Mr. Njoku said.
The entrepreneur hinted that there is every livelihood that the borders, especially the Lagos corridor, was closed on the insistence of the richest man in Africa, saying that the borders break his monopoly of the food items.
“There is a Dangote connection to this closure saga. Dangote is practically the greatest beneficiary to the closure; he is the one selling his products easily now, at whatever price he deems fit. Recall that he once complained about the importation of most things in the country through the Seme border. He once said, ‘having a neighbour like Benin Republic is bad luck’. The way it is now, the common man is suffering, and the elites don’t care. That is why the likes of Oshiomhole will canvass for continuous closure. They can afford whatever item at whatever price, but can the regular Nigerian?” he queried.
Mr. Njoku also noted that the government policy has heightened crime in the society as many who has been rendered jobless had ‘to do something by all means’. It was also discovered that very poor quality local rice are being re-bagged in foreign rice and sold at the price of foreign rice.
He advised the government to as a matter of urgency reopen the borders as very innocent Nigerians are at the receiving end. Not a few Nigerians fear that a bag of rice is likely to cost as high as N40/45, 000 by December.
In the midst of the confusion, Nigerians are asking ‘where does the seized rice go?’
Headlines
Trump Signs Spending Bill to End Longest Government Shutdown
US President Donald Trump has signed a federal spending bill, officially ending the longest government shutdown in American history.
The legislation, passed by the House of Representatives in a 222–209 vote, followed narrow approval in the Senate just two days earlier. The bill restores funding to federal agencies after 43 days of closure, bringing relief to millions of government employees and citizens affected by halted services.
Speaking after signing the measure on Wednesday night, Trump described the deal as a political victory, asserting that Democrats unnecessarily prolonged the shutdown.
“They didn’t want to do it the easy way. They had to do it the hard way, and they look very bad,” he said.
The temporary funding bill maintains government operations only through 30 January, creating a new deadline for lawmakers to negotiate a long-term budget solution.
As part of the agreement, Senate leaders committed to an early December vote on Obamacare subsidies, a key priority for Democrats during the shutdown standoff.
In addition to reopening federal offices, the bill provides full-year funding for the Department of Agriculture, military construction projects, and several legislative branch offices.
It also ensures retroactive pay for federal workers affected by the shutdown and allocates funding to the Supplemental Nutrition Assistance Program, SNAP, which helps about one in eight Americans access food.
The shutdown, which began in October, forced the suspension of many government services, leaving an estimated 1.4 million federal employees either furloughed or working without pay. It also disrupted food assistance programmes and caused widespread delays in domestic air travel.
With federal operations now resumed, attention in Washington has turned to whether Congress and the White House can reach a longer-term funding agreement before the new deadline at the end of January.
Headlines
FG Halts Planned 15% Import Duty on Diesel, Petrol
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), on Thursday, announced discontinuation of the planned 15 per cent duty on imported petroleum products.
NMDPRA’s Director, Public Affairs Department, George Ene-Ita, conveyed the development in a statement while warning the public to shun panic buying.
President Bola Tinubu, on October 29, approved an import tariff on petrol and diesel, a policy expected to raise the landing cost of imported fuel.
The President’s approval was conveyed in a letter signed by his Private Secretary, Damilotun Aderemi, following a proposal submitted by the Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji.
The proposal sought the application of a 15 per cent duty on the cost, insurance, and freight value of imported petrol and diesel to align import costs with domestic market realities.
Implementation was slated to take effect on November 21, 2025.
The policy aimed to protect and promote local refineries like the Dangote Refinery and modular plants by making imported fuel more expensive.
While intended to boost local production, it is also expected to increase fuel costs, which could lead to higher inflation and transportation prices for consumers.
Experts have argued that the move could translate into higher pump prices for consumers, with some estimating an increase of up to N150 per litre or more.
In an update, however, NMDPRA said the government was no longer considering going ahead with implementing the petrol import duty.
“It should also be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in View,” the statement read in part.
Meanwhile, the NMDPRA also assured all that there is an adequate supply of petroleum products in the country, within the acceptable national sufficiency threshold, during this peak demand period.
“There is a robust domestic supply of petroleum products (AGO, PMS, LPG, etc) sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this period.
“The Authority wishes to use this opportunity to advise against any hoarding, panic buying or non-market reflective escalation of prices of petroleum products.
“The Authority will continue to closely monitor the supply situation and take appropriate regulatory measures to prevent disruption of supply and distribution of petroleum products across the country, especially during this peak demand period.
“While appreciating the continued efforts of all stakeholders in the midstream and downstream value chain in ensuring a smooth and uninterrupted supply and distribution, the public is hereby assured of NMDPRA’s commitment to guarantee energy security,” the statement added.
Headlines
Senate Approves Tinubu’s N1.15tr Domestic Loan Request to Fund 2025 Budget Deficit
The Senate has approved President Bola Tinubu’s request to raise N1.15 trillion from the domestic debt market to cover the unfunded portion of the 2025 budget deficit.
The approval followed the adoption of a report by the Senate Committee on Local and Foreign Debt during plenary on Wednesday.
The committee noted that the 2025 Appropriation Act provides for a total expenditure of N59.99 trillion, representing an increase of N5.25 trillion over the N54.74 trillion initially proposed by the Executive.
This expansion created a total budget deficit of N14.10 trillion. Of this, N12.95 trillion had already been approved for borrowing, leaving an unfunded deficit of approximately N1.15 trillion (N1,147,462,863,321).
In a related development, a motion by Senator Abdul Ningi was adopted, directing the Senate Committee on Appropriations to intensify its oversight to ensure that the borrowed funds are properly implemented in the 2025 fiscal year and used strictly for their intended purposes.
President Tinubu had on November 4th requested the approval of the National Assembly for a fresh ₦1.15 trillion borrowing from the domestic debt market to help finance the deficit in the 2025 budget.
The President’s request was conveyed in a letter. According to the letter, the proposed borrowing is intended to bridge the funding gap and ensure full implementation of government programs and projects under the 2025 fiscal plan.






