The Cross River State government is subsidising prices of foodstuff, such as rice, tin tomatoes, groundnut oil and sweet corn, by as much as 40 percent .
The subsidy on the foodstuffs, which is already drawing traffic
from even neighbouring states to the Tinapa Free Trade Zone
where the foodstuffs are being sold, is the first of its kind in the
state according to some residents.
A bag of rice that goes for between N22,000 and N25,000 in the
open market is being sold at N15,000 in Tinapa.
Also a pack of tin tomatoes that sells for N9,000 in the market
is being sold at N6000 in Tinapa.
Sweet Corn and groundnut oil is being sold are N8,000 and
N7,000 repectively as against N11,500 and N11,000 in the open
market.
Commsioner for Finance, who also doubles as the Manging
Director of Tinapa Free Trade Zone, Asuquo Ekpeyong Jnr.,
said the subsidy on the foodstuff was to enable citizens
celebrate the Christmas with their families despite the
economic condition in the country.
Ekpeyong said: “The Governor, Senator Ben Ayade decided to
subsidise the cost of food stuff in this yuletide season to
enable the people of Cross River State celebrate with their
families whether they are indigents or not.
“We reduced the cost, working with the operators by paying off
some of the cost of the goods up to 40 percent.”
Mr Felix Eyibo, who came to see his family living in Calabar
from Akwa Ibom, said: “I decided to branch and buy some food
stuff in Tinapa due to the price reduction because I can’t see at
such a price at Uyo.
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