PEOPLES GAZETTE
There seems to be no end in sight to hike in food prices driven largely by the economic policies of President Bola Tinubu.
A survey by Peoples Gazette on Tuesday, showed that the price of a 50 kilogram rice, a staple mostly consumed by households in Nigeria, has crossed the N100,000 mark.
According to the survey, Caprice now goes for N123,500, Disney Princess N102,000, Saelony N110,000, Big Bull N113,000, Mamas Pride N114,000, while Tomato Gold is N148,500.
Meanwhile, consumers have recently started becoming familiar with Big Bull sachet rice which costs N300, although N200 was inscribed on the pack, indicating a recent price increase.
Experts linked the high cost of commodities in the country to weak naira, which according to the FMDQ Exchange, as of November 12, 2024, slipped to an all-time low of ₦1689.88 at the official Investor and Exporter window.
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