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Nigerian rice prices have dropped, offering consumers much-needed relief amid rising food inflationImproved supply and competition among dealers lead to significant price reductions in major marketsHouseholds return to regular purchasing patterns as current rates remain more manageable than previous months
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigerian consumers are finally getting some relief as the price of rice continues to decline across major markets, with dealers reducing prices following improved supply and easing market pressures.
A market survey conducted by Legit.ng shows that a 50kg bag of rice now sells for between ₦40,000 and ₦87,000, depending on the brand, quality, and location.
Rice prices crash across major markets nationwide; dealers announce new rates. Credit: NovatisSource: Getty Images
The latest prices represent a significant improvement from previous months when some premium brands sold well above ₦90,000 and even crossed the ₦100,000 mark in
