Legit.ng previously reported that following the rallying of the Nigerian currency, the naira, against the US dollar, the price of a 50kg bag of rice has crashed to an average of N67,000 in Lagos, Abuja, Ogun, and other states, from the N90,000 it sold in February this year.
Findings show that in border communities across the country, the price of the staple sold at a much lower rate compared to other places.
Seven-year data from the Nigeria Bureau of Statistics (NBS) show that the average price of 1kg of rice increased from N172.74 in 2016 to N520.84 as of 2023.
Source: Legit.ng
