In a press release issued January 6, 2024, the government of Sierra Leone has announced the establishment of a new pricing formula for rice. According to the release, effective today, January 7, the cost of a wholesale 50 kilograms bag of per boil rice will reduce to NLE 840 with an additional 5% reduction projected to take effect on February 14, 2025. That is, the price will change from NLE 840 to NLE 799.
This agreement was reached after a high-level delegation meeting with the Chief Minister, the Ministries of Finance, Agriculture and Food Security, and Trade and Industry; the Majority Leader in Parliament; and major rice importers.
Despite the reduction, this news has sparked mixed reactions among citizens in regards to the high cost of rice and general cost of living in the country. With more concern on rice being the nation’s staple food. What are your thoughts 💭?
