Market News
Inflation Hits Top Nigeria Dish as Rice Price More Than Doubles - BLOOMBERG
- Price of 2.2 pounds of rice rose 154% in March year on year
- President Tinubu’s aggressive reforms blamed for higher prices
The price of rice — the main ingredient in Nigeria’s favorite jollof dish — more than doubled in March, placing more pressure on household incomes in Africa’s most populous nation, where the food is a staple.
Nigerian rice prices surged 153% in March from a year earlier, the statistics agency said on its website. A kilogram (2.2 pounds) of rice sold for 1,340 naira ($0.95) in March compared with 540 naira a year earlier.
