– Prices of foodstuffs have begun
crashing in Jigawa as latest survey of the popular Hadejia
market in the state
shows – The market survey reveals also that a bag of rice now goes for N8,500
at Hadejia as against the previous N11,000 that it went for Share on Facebook
Share on Twitter rice rice PM News is reporting that the prices of food items have
crashed in Hadejia, Jigawa state. Quoting News Agency of Nigeria (NAN), PM News
reports that the crash in food price is as a result of ‘a significant increase
in the supply of agricultural produce to the market’. READ ALSO: PDP lists
reasons why Buhari’s govt is not better than Jonathan’s (SEE LIST) According to
investigations by NAN on Tuesday at Hadejia market, food prices were down by
about 30 percent. Now, a bag of millet goes for N14, 000 as against N18, 000
while a bag of paddy rice went for N8, 500 as against its previous price of
N11, 000. Maize and sorghum were sold at N11, 000 and N13, 000 down from their
old prices of N15, 000 and N17, 000, respectively. PM News quotes NAN as saying
that its investigation showed that the crash was necessitated by the harvesting
of food crops and the corresponding increase in the supply of food items in the
market. READ ALSO: Fast all in one — UC Browser It also also reports that
farmers recorded high yields due to appreciable rainfall and good weather
condition recorded this cropping season. Traders, who spoke with NAN at the
market, attributed the drop in prices of food items in the state to increase
the supply of fresh produce from the farms while a grain dealer, Alhaji Kassim
Adamu expressed confidence that prices would further go down because of the
harvest by farmers. “The supply keeps moving up and it will push prices further
down,” he said. Meanwhile, Nigeria in talks with the Chinese import-export bank
China Exim Bank for a $21 billion loan to finance its 2016 budget and develop
new infrastructure projects to boost the ailing economy. This was announced by
the minister of budget and national planning, Senator Udoma Udo Udoma following
his visit to China in July and President Muhammadu Buhari’s visit to China in
April.
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