Could this be the long-awaited relief Nigerians have been hoping for? The Federal Government has announced a major drop in the price of rice, now selling at around N80,000 per 50kg bag, following ongoing economic reforms introduced by President Bola Ahmed Tinubu’s administration. The development signals a gradual improvement in the nation’s food supply chain and a possible easing of inflationary pressures that have burdened households in recent months.
Reporting for Jocomms, our correspondent gathered that the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, attributed the price drop to the government’s consistent efforts in stabilizing the naira, supporting local production, and enhancing agricultural value chains. He noted that policy interventions under the renewed economic strategy are beginning to yield visible results across key sectors, especially in food production and distribution.
Edun reaffirmed the government’s commitment to sustaining these positive trends, assuring Nigerians that more relief measures are on the way as the administration consolidates its reform agenda. With prices beginning to ease and confidence gradually returning to the market, could this mark the beginning of a new era of economic recovery for Nigeria? Visit www.jocomms.com for more news.
