The Nigerian government has announced that a 50kg bag of rice will now be sold for N40,000 nationwide. This price represents a 50 percent reduction in the cost of this staple item....For More READ THE FULL STORY▶▶
The price cut follows the recent release of 20 trucks of rice to various state governors for distribution to the public. Minister of Information and National Orientation, Mohammed Idris, made the announcement in a statement following Monday’s Federal Executive Council meeting in Abuja.
He noted that those interested in purchasing rice at the subsidized rate should visit the designated sales centers established by the government.
“There is also rice that is being sold at about 50 percent of its cost. A bag of rice is being sold as we speak now. This rice has been taken to various centers across all the states of the federation and is being sold at N40,000. Centers have been created so that those who need this rice can go there and buy it at N40,000,” he said.
Meanwhile, a survey by Within Nigeria revealed that a 50-kg bag of rice is currently priced between N75,000 and N80,000 in Dutse, Wuse, and Kubwa markets in Abuja. This comes as Nigeria’s food inflation rose to 40.87 percent in June, according to the National Bureau of Statistics consumer price index report....For More READ THE FULL STORY▶▶
