- The reduction in the price of rice follows the recent release of 20 trucks of the product to various state governors for distribution to Nigerians.
A 50kg bag of rice will now be sold for N40, 000 across the country, the Nigerian government has announced.
The new cost represents a 50 per cent reduction in price of the staple item.
The reduction in the price of rice follows the recent release of 20 trucks of the product to various state governors for distribution to Nigerians.
The Minister of Information and National Orientation, Mohammed Idris, announced the slash in a statement at the end of Monday’s Federal Executive Council meeting in Abuja.
According to him, persons who are interested in purchasing the rice at subsidised rate should visit centres created for their sales by the government.
“There is also rice that is being sold at about 50 per cent of its cost. A bag of rice is being sold as we speak now. This rice has been taken to various centres across all the states of the federation and is being sold at N40,000. Centres 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 showed that a 50-kg bag of rice goes for between N75,000 and N80,000 in Dutse, Wuse and Kubwa markets in Abuja.
This is as Nigeria’s food inflation rose to 40.87 per cent in June, according to the National Bureau of Statistics consumer price index report