For some time now, the price of rice and other essential like beans and even tomatoes has been on the rise. It would interest you to know that the price of rice in nigeria is higher than the minimum wage.
currently the price of a bag is in the range of 23-25 thousand naira. As reported by Sahara reporters, the junior minister of agriculture has even claimed that the Price Of Rice May even Rise To N40,000 Per Bag before December.
Nigeria spends about $22 billion a year on importation of food stuffs, and this number could skyrocket if the price of rice keeps on increasing. but however has not given the federal government cause to lift the ban imposed on the importation of rice to nigeria.
DailyGists.Com.Ng ran a quick market survey to determine the current price of a bag of rice in nigeria, and what will found out will shock you.
the current market value of a bag of rice and a 100kg bag of beans at the popular Mile 12 market in Lagos, have slightly increased from N22,500 to N22,600 and N23,000 to N23,800 respectively.
Source: DailyGists.Com.ng