₦airaland Forum

The price of a 50kg bag of rice has dropped to an average of N54,000 following rumours of alleged deadly rice in circulation. The drop is also a result of the oversupply of the staple from India, according to a report by S&P Global.

It was gathered that the price of the commodity dropped from N58,000 in April, as demand for rice reduced in the last few days due to claims that people died after buying rice in Badagry, Lagos State, and Idiroko in Ogun State.

The demand for rice dropped lately when parents and relatives sent voice messages to their loved ones, warning them against buying or consuming rice this time because it was alleged by another sender on WhatsApp that over 70 persons had died in the past few days after buying or consuming the said rice.

Even though the Nigeria Customs Service in Seme debunked the claims, it was observed that consumers boycotted rice, causing a drop in price. Our correspondent gathered that a 50kg bag of rice is now N50,000 in areas close to the borders.

https://punchng.com/death-scare-oversupply-drag-50kg-rice-price-to-n54000/

I repeat again, Nigeria is Nigeria problem, this is not need for price control because you can't control the price where subsidy doesn't exist. Just make the products over available and see it crashes overnight. I think is because of the duty free and border opened by this government that made supply above demand, is simple economics. Our local farmers can't feed us, we haven't gotten to that level yet.

Gentledove2001:
I repeat again, Nigeria is Nigeria problem, this is not need for price control because you can't control the price where subsidy doesn't exist. [b]Just make the products over available [/b]and see it crashes overnight. I think is because of the duty free and border opened by this government that made supply above demand, is simple economics. Our local farmers can't feed us, we haven't gotten to that level yet.

The president spoke about over supply during media chat and followed it with action. Not that our over inputs-subsidized-farmers cannot meet our needs at lower prices but because of greed and hoarding

But for okha market for edo state in sapele Road, those women does not give a fvck about rice been drop or not.

columbus007:
But for okha market for edo state in sapele Road, those women does not give a fvck about rice been drop or not.

Benin people are very greedy people
Especially their traders
That's why everything is cost over there

wwwihy:
The president spoke about over supply during media chat and followed it with action. Not that our over inputs-subsidized-farmers cannot meet our needs at lower prices but because of greed and hoarding

Propaganda will not save you and your paymasters from this one.
Don't blame a very ineffective government, rather blame the "middle men and hoarding "- aka the traders and their warehouses.., you are just few steps away from blaming your partys normal fall guys..
In the final analysis, Nigerians buy rice everyday and they know the price.

Any dealer in the house and stays in Ojodu axis

Go price am first

MadPolitician:
Propaganda will not save you and your paymasters from this one.
Don't blame a very ineffective government, rather blame the "middle men and hoarding "- aka the traders and their warehouses.., you are just few steps away from blaming your partys normal fall guys..
In the final analysis, Nigerians buy rice everyday and they know the price.

Depression garnished with sadness is real

The price of good grain Rice is N80,0000 to N90,000

wwwihy:
The president spoke about over supply during media chat and followed it with action. Not that our over inputs-subsidized-farmers cannot meet our needs at lower prices but because of greed and hoarding

An average Nigeria mentality is worst than the government, they exploit their fellow citizens at any given opportunity and turn back and blame the same government.

columbus007:
But for okha market for edo state in sapele Road, those women does not give a fvck about rice been drop or not.

Edo no be Lagos😂😂

wwwihy:
Depression garnished with sadness is real

Sterile thoughts emanating from malnourished ebinpawa rodents is really real