Nigerians Laments As Rice Hits N77,000 Per Bag

Most families in Nigeria are going through difficult times right now as they have been forced to take steps to reduce expenses in order to deal with the current difficulties brought on by the sharp increase in the cost of goods and services.

Many of them bemoaned the fact that their salary was insufficient to cover their basic necessities and mentioned that the cost of necessities had nearly tripled in the market. The price of a bag of rice, which is likely one of the most widely used essentials in the nation, has increased to N77,000.

The National Bureau of Statistics reported in December that headline inflation increased to 28.9%, marking a 27-year high for the nation’s inflation rate.

Compared to the previous month, the headline inflation rate for December increased by 0.72 percent. Food costs have increased in Nigeria in recent years. Government actions like the elimination of the gasoline subsidy and the unrestricted depreciation of the naira in the foreign exchange market caused the situation to worsen.

According to information obtained by Sunday PUNCH, long grain rice, which in November used to sell for between N45,000 and N50,000, is now over N70,000, placing a great deal of strain on customers.

The unprecedented increase in the prices of commodities has caused nationwide hardship, with residents of some major cities taking to the streets to register their displeasure.

Although the Federal Government has ordered the distribution of grains and other items to cushion the effects of the economic crisis across the country, citizens are still grappling with the hike in the prices of commodities.

Hhmm…the hardship is really draining a lot of Nigerians. The government needs to come to our aid and proffer a solution before things escalate and lead to violence and loss of lives.