Rising Rice Prices in Nigeria: Impact, Causes, and Solutions

by time news

2024-02-14 10:20:02

Nigeria is an African country in the Gulf of Guinea region. Its capital is Abuja.

Rising prices across Nigeria are hitting people hard.

The staple food of the people of that country is rice.

Due to the rising price of rice, the people of the country have started using afafata, a coarse, hard-to-cook type of rice that was previously reserved for rice mills.

A few years ago, Afafada rice was sold at a low price by rice millers only to those who used it as fish feed; Sometimes they throw it away without selling it.

But now the situation is changing there.

Afafada is now becoming scarce for fish farm owners as it is increasingly being used by the poor.

Food prices in Nigeria continue to rise due to various reasons including the global economic recession, President Bola Tinubu’s cancellation of fuel subsidies, and the devaluation of the country’s currency, the Naira.

In many states, people staged protests against the price hike.

Prices have doubled in Nigeria in the last 2 months.

Usually, a 50kg bag of rice bought by the country’s middle and poor people is currently sold at around Rs 4400 ($53). This is 70 percent higher than last year’s selling price, leaving most people unable to afford quality rice.

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