NewStats: 3,263,756 , 8,181,288 topics. Date: Saturday, 07 June 2025 at 06:15 PM 2w1o4m

Imagine a society where the price of a basic necessity like rice skyrockets from ₦7,500 to an unimaginable ₦100,000 within a decade, leaving millions struggling to afford their next meal. This stark reality paints a troubling picture of the widening gap between the rich and the poor, a divide fueled by economic mismanagement, inflation, and growing inequality.

The widening gap between the rich and the poor, as demonstrated by the sharp increase in the price of basic necessities like rice, is a significant socioeconomic challenge. Over the years, various factors have contributed to this disparity:

Economic Mismanagement and Policy Failures:

During Goodluck Jonathan's istration, a 50kg bag of rice was more affordable (around ₦7,500), reflecting relatively stable policies on importation, subsidies, and exchange rates.
Under Muhammadu Buhari, the price surged (₦35,000) due to the border closure policy, reduced agricultural productivity, rising inflation, and a weakened naira.
Under Bola Tinubu, the price escalating to ₦100,000 reflects the compounded effects of subsidy removal, ongoing inflation, foreign exchange liberalization, and global economic pressures.

Inflation and Currency Devaluation:

Nigeria's naira has faced significant devaluation over the years, increasing the cost of imports, including fertilizers, machinery, and raw materials needed for local rice production.

Inequality in Wealth Distribution:

Wealth accumulation remains concentrated among a few, while the majority face stagnant wages, unemployment, and lack of social safety nets.

Insecurity and Declining Agricultural Productivity:

Insecurity, particularly in agrarian regions, has disrupted farming activities, reducing food supply and driving prices higher.
Global Economic Factors:

The COVID-19 pandemic and the Russia-Ukraine conflict have disrupted supply chains and increased the cost of food globally, further exacerbating local challenges.

Solutions to Bridge the Gap

Economic Reforms:

Diversify the economy to reduce dependence on imports and oil revenues.
local rice farmers with subsidies, access to credit, and modern equipment to boost production.

Social Investment:

Strengthen social safety nets for vulnerable populations through targeted subsidies and cash transfer programs.
Invest in education and skills training to create more opportunities for the underprivileged.

Fiscal and Monetary Discipline:

Stabilize the naira through robust monetary policies and improved foreign exchange management.
Address inflation by ensuring a balance between demand and supply.

Security Enhancements:

Tackle insecurity to enable farmers to return to their fields, increasing food production and lowering prices.
Addressing these issues requires political will, transparent governance, and long-term planning to create an equitable society where basic needs are accessible to all.

The rising cost of essentials like rice is more than just a number; it’s a reflection of the widening chasm between the haves and the have-nots. Bridging this gap requires more than policies—it demands bold, inclusive action that prioritizes the well-being of every citizen. The question remains: will our leaders rise to the occasion, or will the gap continue to widen? The choice is ours, and the time to act is now.

Dr. Melchisedec Bankole

Hian. It is indeed very troubling. Back then with 2500 Naira, you can cook a pot of ogbono soup that will last 3days. Now it's a different ball game as a cup of ogbono is around 4000 Naira in Lagos.

When truly wonder where we are heading in this country of ours. I see a future where things will get much, much worse and everything will spiral out of control and will eventually lead to a "revolution".

We prefer to build lounges and hotels.

Toh

Who are the people reaping out from the skyrocketed price!

With this economic disaster the country is going thru, some people are hailing the government and saying that they are doing well

Even the so called rich are feeling it because they would have relatives who are poor that depends on them

There is almost no except those in the corridors of powers who hasn't felt the venom that T pain has pushed down our throats

Unfortunately, there is no running away, in 2031 he would be declared winner again whether he is voted for or not

Reading…

A country that hates agriculture and basic education cannot do much amongst the comity of nations.

We prefer to import than produce.

The solutions are far fetched but we prefer to suffer as usual.

We go wake up when sleep belleful us.

This is what APC zombies is celebrating as good governance....any policy that will first destroy the purchasing power of majority of citizens are not viable...a well thought out policy will put the fall out under control but tpain is just an old man rogues around him is deceiving especially that CBN governor

Economic mismanagement and greed from sellers

They have turned their blame game to Davido


If they place a cause on a poor man using APC, his life will be left with nothing and if they use APC as a cause on his enemies, his life will change for the better..

Too bad,but only the economic enlightened ones will understand that “with recent reforms,things will go up before coming down!

A bag of rice still sells for less than 10k in neighboring countries. Corrupt wicked people in government will import the same rice, rebrand it then sell for over 100k per bag.
This is why the ban on importation of rice will never be lifted even if all Nigerians die of starvation.
Tinubu is a very ruthless person when it comes to making money from the pains of the people.
He has said it severally that he bought the presidency with his money.It will be delusional for anyone to think he is concerned by your suffering and gnashing of teeth

They should cease their wailing, the best man is taking care of economy

Our President reform policy is gaining ground( according to his robot ers)

They haven’t seen anything yet

Is our turn, he built and positioned Lagos state in their words

E reach to build Nigeria and position it, building materials finished

🤣🤣🤣🤣🤣

EMILOKAN

2027 is here again, another chance to choose your choice

Can someone just point out ONE thing the government is doing to show the country will get better?

Just ONE?
Flee is you have the opportunity!

It's unheard of. Like you can't understand how things got worst in just 10 years. So if this country was ruled by Buhari and Tinubu from the beginning we would have finished by now.

Bobloco:

Instead of you to make meaningful contributions to the topic, you are shining teeth.

This useless trend shows that a lot of people are not okay.

You're lucky that those fooools that failure because of ethnic bias and monthly stipends are still looking for their chewing stick.

helinues:
Toh

Who are the people reaping out from the skyrocketed price!

Somehow you forgot to ask who brought the skyrocketing price in the first place, selective dementia

Hope as the refinery begins to work the price of petroleum products will fall drastically. It will help to bring down the prices of food. The worse poverty is when one can barely feed. Hunger breeds all form of corruption.

The choice is theirs (our leaders)....not ours.

Is this Davido's fault?


@helinues Freestuffsng Yarimo Biodun556

DrMB:

We are our own problems and until we have a change of behaviour, we would implode

I have rice but need Beans!!!! Abeg who get Beans let's trade by Barter😩

ClearFlair:
@helinues Freestuffsng Yarimo Biodun556

I came on the thread before you. Why are you making trolling a profession ?

Oscarchims:
Hope as the refinery begins to work the price of petroleum products will fall drastically. It will help to bring down the prices of food. The worse poverty is when one can barely feed. Hunger breeds all form of corruption.

Propaganda. Watch how they'll cook up excuses

It is good ! Nigerians only learn from hark knocks ... So we still have some more hard knocks to finally realize government is the people

And politicians are our servants.

If house boy don dey tell oga time when to knack madam for him own house, you no see say oga don become oloriburuku?!

It's good, it's called baby steps of pain

helinues:
Toh

Who are the people reaping out from the skyrocketed price!

Nigeria has never been normal and prosperous since the day Tinubu touched it from 2012

From Ojota protest to the installation of Buhari to his own government.

It has destruction damage destruction