Rice Price in Nigeria Drops from ₦150K to ₦50K After Fuel Subsidy Removal – Former Lawmaker Speaks

Nigerians are still reacting to fresh comments about the impact of fuel subsidy removal in the country, as former House of Representatives member, Oghene Egoh, opens up on how the policy shook the economy. Alot of people won’t agree with this, Watch Video Now.

According to him, the decision by the federal government initially pushed many families into serious hardship, with food prices rising sharply across markets in Nigeria. He revealed that rice, one of the most consumed staple foods, reportedly jumped to as high as ₦150,000 during the early stage of the reform, leaving many households struggling to survive as inflation hit hard.

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Egoh, however, said the situation has started to change, noting that the price of rice has now dropped to about ₦50,000. He explained that such price movements are part of the natural adjustment that follows major economic reforms like subsidy removal. According to him, while the beginning was painful, the long-term goal is to stabilize the economy and reduce pressure on government spending.

The debate continues across Nigeria as citizens argue whether the hardship was worth it or not. Some believe things are finally getting better, while others say the cost of living is still too high for the average family.

What do you think about this situation? Do you believe the economy is truly improving or still getting worse? Drop your opinion in the comment section. Share this with someone who needs to see this.

— Reported by Newsvista Global Desk