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Dollar crash is legit - Nigerians react as price of rice reduces from N90,000 to N42,000 per bag


“In December, I used to be shopping for between N74,000 and N76,000. However I now promote for N65,000 and generally N62,000, relying on who bought the inventory to me,” she mentioned.

One other dealer within the Agege market, who merely recognized himself as Ade mentioned the worth of the 50kg bag of rice had been lowered to round N60,000.

 “We will solely thank God that the hardship shouldn’t be as severe because it was in February. Rice virtually turned gold, however we thank God at this time. I want it may return to N40,000,” he mentioned.

Equally, the worth of a 50kg bag of rice dropped in numerous components of Ogun State.

Checks reveal that the costs differ primarily based on the proximity of the areas to the borders with the Republic of Benin, as communities like Imeko, Ilara, Idiroko, Ipokia, Oja-Odan, and others get the commodity cheaper.

 “I purchased one bag of rice for N47,000 in Ilara final week. It was near N70,000 in February and March, even right here on the border. However now it’s coming down,” a dealer, who recognized herself as Adeyinka, mentioned on Monday.

In the meantime, Nigerians have expressed delight on social media over the drop within the worth of the product. 

@mr_asiwaju mentioned; “Bag of overseas rice is now 53,000. Na Nigeria rice worth we no know. they’re nonetheless promoting outdated inventory.”

@am_BinHamzat wrote; “Is like this Naira appreciation is legit ooo😅 we began seeing adjustments on the market. Cellphone worth is down Rice worth is diwn. Shadda worth and different supplies are down.”

@st_ralp mentioned; ” Greenback is crashing. Diesel is crashing at 1000 now. Rice worth is coming down. Could Tinubu succeed.”

By RemmyTex

Remmytex is a blogger, promoter, entrepreneur and and a businessman. Call or send a Whatsapp message for more information on +2349075664854 or you can email remmytexblog1@gmail.com

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