By Grace Samuel
Households in some states across Nigeria are beginning to heave a sigh of relief as prices of staple food, especially rice records a little decline.
It was gathered that the decrease in price comes as the naira rebound against major currencies, especially the dollar.
Previously, the average price of a bag of rice in Lagos, Abuja, Ogun, Rivers and other states rose to as high as ₦90,000 between January and February this year, but traders note that it has dropped to an average of ₦67,000 per 50kg bag.
It was also gathered that in some border communities like Imeko, Idiroko, and Oja-Odan, 50kg bag of rice now sell as low as ₦49,000 or below.
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Some traders who spoke with NatureNews correspondent also confirmed the reduction in price.
Mallam Salisu Umar of Kado Kuchi in Abuja, confirmed that the price of rice has significantly dropped, and they are grateful for it.
He mentioned that he recently purchased a bag of rice for 65,000 Naira.
Similarly, Jibrin Mamman Yakubu, a provision store owner, confirmed that he bought rice at 64,000 Naira adding that a mudu now sells for N2,400.
He expressed gratitude to the government for their intervention, which he believes has led to the drop in food prices.
However, while the reduction in the price of rice is a welcome development for traders and consumers, it is essential to note that some traders mentioned that the prices may vary in states and among traders.
