Last month, on the 17th of January, President Muhammadu Buhari unveiled over 10 pyramids of rice at the Abuja International Trade Fair Complex. One million rice paddies were used to construct the pyramids as part of a media parade to showcase the results from the Anchor Borrower’s Programme (ABP). According to the President, with the ABP, Nigeria’s rice production has increased to over 7.5 million metric tons annually. With so much rice production, why is the average price of a 50kg bag of rice N20,000?

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A few corrections:

1. We said oil prices went down to $29 dollars In 1983, it was actually in 1985

2. In 1975, 1 Naira was actually equivalent to $1.66 USD so 5.5 billion Naira In 1975 would have been equal to over $9.1 billion USDs

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This episode was produced by Rahmat Muhammad, John Iwodi, Anthonieta Kalunta, Uche Mbah, Dominic Tabakaji and Sam Tabakaji.

Executive producer Rahmat Muhammad.

Copyright © 2022 Triple-E Media Productions. All rights reserved.

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