Recession: Niger govt slashes prices of goods by half

The locals in Niger state will be all smiles for the remaining part of the year as the state government has flagged off sales of N183million worth of grains at a reduced rate.According to the News Agency of Nigeria (NAN), this new rate will ensure that the products would be bought at a much cheaper rate compared to the market price.
 Governor Sani Bello of Niger state, who confirmed this news on Saturday, October 1, noted that the persistent hike in price of commodities necessitated the move by the state government.

He said: “Foods and shelter are considered to be very important things in life. A lot of people have problems in buying foods, especially during festive periods.“We feel the pains of our people and that is why we made it a priority to embark on the sale of grains across the 25 Local Government Councils.“The sale of these grains at subsidised rate is part of government’s effort to cushion people’s hardship.”The governor, explained, however, that there were criteria to be met to enjoy the government’s largess.The grains, Bello stated, would be sold only to the less-privileged and not to people that may want to buy and resell to make extra profits.In a related development, the price of foodstuffs have crashed further in Bauchi state after months of soaring food prices.Checks in some of the major markets in the state revealed that prices of foodstuffs have reduced by 50% , Daily Trust reports.According to Malam Adamu Kafin Maigari, a grain seller at Muda Lawal Market, Bauchi, a bag of maize which few months ago was going for N18,000 now sells for N9,000 while local rice that used to cost N35,000 is now being sold at N20,000.