The real reason the Federal Government announced the suspension of the sale of rice to civil servants at N40,000 has been revealed.
According to a popular economist and the Executive Director of Financial Derivatives, Bismarck Rewane, FG suspended the sale because of greed on the part of the civil servants.
Rewane alleged that some civil servants who bought 50kg bags of rice at N40,000, resold it at N85,000.
The economist disclosed this on Thursday in an interview with Channels Television.
According to him, the price of rice which he described as a ‘Parallel market’ increased by 3.62 percent to N85,000 from 83,000. This is despite the government’s subsidized price of N40,000.
“Our team went into the market yesterday (Wednesday). The price of rice coincidently went up by 3.62 percent to N85,000. This is happening at the time the Federal Government is selling rice to public servants at N40,000 per 50-kilogram bag. While in what I can now describe as the parallel market for rice stood at N85,000. What happens is that the civil servant will buy at N40,000 per bag and sell at N85,000. That is inefficient,” he said.
However, the Federal Government on Thursday announced the suspension of the sale of 50kg bags of rice to civil servants at N40,000.
The withdrawal of the circular was communicated in another circular by the Director of Human Resources at the Ministry of Special Duties and Inter-Governmental Affairs, Aderonke Jaiyesimi.
The internal circular, dated August 2, 2024, and sighted by our correspondent on Thursday, was addressed to all Directors and Heads of Departments.
Jaiyesimi said, “I am directed to refer to our internal circular in the Ministry (Federal Ministry of Special Duties and Inter-Governmental Affairs) of August 2024 on the above subject matter. And to inform you that the internal circular is hereby withdrawn. Further details will be communicated in due course.
“Please bring the contents of this internal circular to the attention of staff in your respective departments and units for their information and proper guidance.”
Our source recalled that based on the former circular, the ministry had invited all civil servants interested in purchasing the Federal Government’s subsidized rice to register. They were to apply by completing a Google form on the OHCSF website. And submit same to the Director of Human Resources for endorsement.
The workers had been informed that payment for and the distribution of the rice would be coordinated by designated offices. And that the Chairman, Joint Union Council of the ministry, would coordinate the distribution. He is to serve as an observer for transparency in the course of the exercise.
In furtherance to making the rice reach more Nigerians, the FG had announced the creation of centres across the country. This is where Nigerians could purchase 50kg bags of rice for N40,000.
This was contained in a statement by the Minister of Information and National Orientation, Muhammed Idris. He had stated that the initiative was one of several initiatives by the Tinubu administration to ease living conditions for citizens.
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