The state government through the Commissioner for Information and Strategy, Mr Gbenga Omotoso revealed that a 5kg bag of rice would sell for N5,325 while 1kg goes for N1,065; 5kg bag of Beans – N6,225 while 1kg would sell for N1,245.
Omotoso said the state has employed a stringent policy model to prevent sharp practices and ensure that the targeted people for the policy would benefit from the intervention. According to him, a voucher system would be introduced. “Independent payment solution providers and food vendors have been identified and carefully selected to operate the process. They will also provide real-time data on the exercise for monitoring” the commissioner said.
The markets will be open at 27 locations in Ikeja; six in Lagos Island; nine in Ikorodu; five in Epe; and 10 in Badagry divisions, Omotoso further revealed. Also, he urged Lagosians to cooperate with the operators at the various locations, monitor the process, and provide feedback through official channels of the Lagos State Government.
Recall that the Lagos State Governor, Babajide Sanwo-Olu in February announced plans to open Sunday Markets where residents will be buying at a reduced cost. “We’re going to cap what you can buy at not more than N25,000 and we’re going to be giving you a 25% rebate immediately there” Sanwolu had said.
He noted that 42 market locations provided by the state government will serve as a palliative hub for citizens to cushion the effect of inflation, naira devaluation and various economic reforms that have brought hardship to the state and nation at large.
BUSHLINK had earlier reported that the National Bureau of Statistics (NBS), said that the food inflation in Nigeria has spiked to an all-time high of 37.92 per cent in February. Also on a year-on-year basis it surged by 13.75 percent against the 24.35 percent recorded in February 2023.
