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Price of a bag of rice has crashed- Finance Minister, Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said that President Bola Tinubu’s policies have set Nigeria “firmly on the right path,” citing the drop in the price of rice to N80,000 from last year’s N120,000.
He also claimed that the prices of garri, pepper, tomatoes, and other essentials have decreased.
In a newsletter he released, the Minister said
‘’We recognise that the economy is ultimately about people, not statistics. Millions of Nigerians measure progress by the cost of food, transport, and other necessities. I am keenly aware of this reality. Food inflation has been our heaviest burden since it surged after currency depreciation and the removal of fuel subsidies. However, targeted measures are beginning to ease the pressure. A bag of rice that cost about N120,000 last year now averages around N80,000. The prices of garri, pepper, tomatoes, and other essentials have also decreased’’