50kg bag of rice to be sold at N40k – Nigerian Government

The Nigerian government said that the price of a 50kg bag of rice has been reduced by 50 per cent to N40, 000 across the country.

The Minister of Information and National Orientation, Mohammed Idris, disclosed this in a statement at the end of Monday’s Federal Executive Council meeting in Abuja.

According to him, the reduction in the price of rice comes amid the recent release of 20 trucks of the product to various state governors for distribution to Nigerians.

“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 DAILY POST survey indicated 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.