Moneybags will not hijack FG’s subsidised 50kg rice, Minister assures

The Minister of Information and National Orientation, Mohammed Idris, has assured Nigerians that the government will put measures in place to ensure that the subsidised 50 kg of rice from the federal government will not be mopped up by moneybags.

Idris, who stated this while fielding questions from journalists at a press conference by the Secretary to the Government of the Federation, Senator George Akume, noted that the government will determine the date, time, and location for the commencement of the sales of rice to Nigerians.

Recall that the federal government had announced plans to sell 50 kg of rice for N40,000 to Nigerians. This development attracted commendations from Nigerians who have been buying the same quantity of rice for as much as N75,000.

“We are in the process of distribution to the various states. Sometimes, it is difficult to mention the routes, and the time is for security reasons. But the rice is available and would be sold for N40,000.

“The rice is already available. I can confirm that to you. And we will give you, point by point, where it is being sold and what the guidelines are.

“Care is being taken so that it will not be hijacked by people who have money. They will just go out there and mop it up, and those to whom this rice was intended will not now get the rice.”

Also, Minister of Budget and National Planning, Atiku Bagudu, said that the present administration inherited a sick economy, adding that despite the situation, citizens lived as princes and princesses.

Bagudu clarified that the 2023 budget inherited by President Bola Tinubu did not have a provision for subsidies, stating that “his bold statement on the day he was sworn in was in tandem with the law as it were.”

He said: “The 2023 budget President Bola Tinubu inherited did not have provision for subsidies. So, his bold statement on the day he was sworn in was in tandem with the law, as it were.

“After that, petroleum prices covered about N600, which at the then exchange rate of N600 to a dollar was about N$1 per litre. Today, the exchange rate is N1500 to a dollar, and petroleum is still being sold for that price.

“And petroleum is imported and paid for in foreign exchange. It illustrates the challenge NNPCL is facing because it is now recovering 30 to 35% of $1.

“That is why it is important to appreciate the bold and courageous decision of Mr President to direct NNPCL that the 445,000 barrels a day that is designated for domestic refinery should be domestic refiners in naira.

“We inherited an economy that has not confronted its reality. We are not as rich as we are. But we have lived like princes and princesses.”

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