Amidst recent developments, the Nigerian government has declared a significant reduction in the price of a 50kg bag of rice, now priced at N40,000 nationwide.
During the Federal Executive Council meeting in Abuja on Monday, the Minister of Information and National Orientation, Mohammed Idris, revealed this latest update.
As part of this announcement, he mentioned that 20 trucks carrying the product have been distributed to state governors for further dissemination among the Nigerian populace.
Highlighting the initiative further, Idris stated, “There is also a notable sale of rice currently ongoing at a price equivalent to 50% of its usual cost. This specially discounted rice is available at N40,000 and has been made accessible in designated centers across all states for convenient purchase.”
Meanwhile, a recent survey conducted by NewsNow revealed that the current market price of a 50kg rice bag in locations like Dutse, Wuse, and Kubwa markets in Abuja ranges between N75,000 and N80,000.
It’s worth noting that Nigeria has experienced a surge in food inflation, with figures reaching 40.87% in June as reported by the National Bureau of Statistics consumer price index report.