JUST IN: Bag of Rice drops to N60,000 from N84,000

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The price of a bag of rice fell after the price of the dollar continued to fall in the BDC market.

The value of a bag of rice has fallen after the dollar fell in the new month of April as a result of the measures taken by the Central Bank of Nigeria to revive the value of the Naira.

The price of a bag of rice has changed froeighty-fourur thousand naira N84,000 to sixty thousand naira N60,000 in the food market.

Nigerians are very satisfied with this step taken by the Government of President Bola Ahmed Tinubu to revive the value of the Naira so that infrastructure and food can be easily provided.

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Currently, Naira is being sold in the black market at 1050 Naira for every US dollar.

The value of the Naira has been weakenefromce the end of March until the beginning of April where currently the Naira is declared as the most valuable currency in the world market after it has weakened by about 70 to 80 percent.

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