The price of imported rice has risen significantly by 144.77% in 2024, as reported by the National Bureau of Statistics. This increase highlights the need for a closer examination of the market dynamics affecting the cost of essential goods.
As of September 2023, the price reached N982.07 per kilogramme, indicating that the average price has more than doubled within a year. NBS data shows that the price for a 50kg bag of imported rice has skyrocketed
Additionally, the proposed 150-day duty-free import policy by the Nigerian government, announced in July, has yet to be implemented. …CONTINUE READING
