A recent survey has revealed that the price of a 50kg bag of rice, has now crossed the ₦100,000 mark, sparking wild concerns about affordability.
The survey showed that popular brands such as Caprice now sell for ₦123,500, Disney Princess at ₦102,000, Saelony at ₦110,000, Big Bull at ₦113,000, Mamas Pride at ₦114,000, while Tomato Gold reaches as high as ₦148,500.
Additionally, Big Bull sachet rice, initially priced at ₦200, now sells for ₦300, reflecting a recent increase.
Experts attributes the sharp rise in fuel prices under Tinubu’s government as another significant factor.
Since taking office on May 29, 2023, fuel prices have spiked from ₦175 per liter to ₦1,030, marking nearly a 500% increase within this period.
