CBN intervention has crashed price of rice says Emefiele
Written by admin on March 24, 2021
The Governor of the Central Bank of Nigeria, Godwin Emefiele, says the price per bag of rice has reduced compared to the price it was sold last year during the COVID-19 lockdown in April 2020.
He attributed the fall in price per 50kg bag of rice to the various intervention programmes of the apex bank.
But the CBN governor while speaking at the 278Th MPC Press Briefing in Abuja on Tuesday said the price per bag of rice rose last year because there was scarcity as most of the rice produced in the country had been purchased as palliatives to cushion the effect of the lockdown.