Rice Prices Fall in Lagos as Some 50kg Bags Drop to N55,000

Home News Foreign Crime Business Politics Health Entertainment Interview Sports Ad Rates No Result View All Result Home News Foreign Crime Business Politics Health Entertainment Interview Sports Ad Rates No Result View All Result No Result View All Result Rice Prices Fall in Lagos as Some 50kg Bags Drop to N55,000 by Robert Imoh October 11, 2026 in Breaking News, News 0 Share on FacebookShare on TwitterShare on Whatsapp Some households in Lagos are getting a modest break from the high cost of rice, although the relief is uneven as prices continue to differ sharply by brand and market.

A market survey by the News Agency of Nigeria (NAN) found that prices of some locally produced and agricultural rice varieties have fallen in recent months, while several other popular brands have become more expensive.

For example, a 50kg bag of agric rice, including People’s Choice, is now selling for about ₦55,000, compared with ₦60,000 to ₦65,000 between July and September.

My Choice rice has also recorded a decline. A derica now costs about ₦1,000 to ₦1,100, compared with ₦1,300 to ₦1,500 previously.

The reduction is providing some relief to consumers, although many households say rice remains expensive relative to their incomes.

Chioma Chigozie, a fashion designer living around Costain, said the decline in My Choice rice prices had helped her household.

She recalled that the price of a derica had climbed as high as ₦2,000 before falling to its present level.

Despite the reduction, she said the staple remained costly and had forced her family to cut back on consumption while prioritising other household expenses.

Chigozie expressed hope that prices would fall further, allowing more families to afford rice without putting additional pressure on their budgets.

Daniel Nwachukwu, a rice trader at Okerube Bus Stop, Ikotun, also confirmed the decline in some agric rice varieties.

He said a 50kg bag of People’s Choice and similar agric rice was currently selling for around ₦55,000, down from as much as ₦65,000 in previous months.

According to him, customers have responded positively to the lower prices, with many hoping that the trend will continue as the festive season approaches.

Raphael Hunsa, Lagos State Chairman of the Rice Farmers Association of Nigeria, described the fall in prices as welcome news for consumers.

He said fluctuations in agricultural commodity prices were normal and could be influenced by production costs, availability and market supply.

Hunsa said government assistance to farmers, particularly access to tractors and other agricultural inputs, could help reduce production costs and support more stable rice prices.

He argued that improving farmers’ access to machinery and inputs would enable them to increase production efficiency and ultimately contribute to more affordable food prices.

The reduction, however, has not been experienced across the entire rice market.

Samuel Igwe, a foodstuff trader in Costain, said some popular brands had recorded significant increases.

He said a 50kg bag of BHOG and Yummy Gold rice, previously selling for between ₦56,000 and ₦57,000, now costs about ₦61,000 to ₦62,000.

Cap Rice has also risen, according to Igwe, from around ₦60,000–₦65,000 to between ₦70,000 and ₦77,000.

He attributed part of the increase to scarcity, saying the particular variety had become more difficult to obtain.

Other brands, including Nigerian rice, Three Brothers, African Choice and Elephant Gold, have reportedly risen from around ₦48,000 to between ₦54,000 and ₦55,000 per 50kg bag.

Igwe said the earlier decline in prices had coincided with the arrival of newly harvested rice, which increased market supply.

He also pointed to increased inflows through the borders as another factor that had temporarily boosted supply and helped moderate prices.

Another trader at Ebutero Korodom Market, identified as Kehinde, said rice prices had previously fallen but subsequently increased as supplies tightened and demand rose.

An unnamed trader at the same market said Big Bull rice had increased from approximately ₦55,000 in August to ₦58,000.

The trader also reported that My Choice and Mr Rice had risen from around ₦53,000 to ₦60,000.

The contrasting prices illustrate the fluid nature of the Lagos rice market, where brand, quality, supply, location and demand can produce substantial differences in what consumers pay.

Independent market data also points to considerable variation. A recent Lagos market tracker put the median price of Nigerian rice at about ₦5,000 per painter, while prices for foreign rice varied considerably between markets.

Separate September data compiled by Farm Agric showed that Nigerian manufactured rice averaged about ₦51,571 per 50kg bag, while imported long-grain rice averaged ₦54,328 across the markets covered by its tracker.

These figures should not be treated as direct replacements for the individual prices reported by NAN, because the datasets cover different markets, dates, brands and measurement methods.

For Lagos consumers, therefore, the immediate picture is mixed: some rice has become cheaper, but the overall market has not entered a broad-based price decline.

Sustained improvements in domestic production, transportation, farm inputs and market supply could help keep prices under pressure, but households are likely to continue shopping around for the best-value brands.

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© 2026 Published by SWAAYA LIMITED, Plot 20, Block G, Scheme 1, Residential 3, OPIC Beachland Estate, Lagos/Ibadan Expressway, Lagos. Gabriel Akinadewo, MD/CEO 08023010222, 08094000056, 08052097814.

No Result View All Result © 2026 Published by SWAAYA LIMITED, Plot 20, Block G, Scheme 1, Residential 3, OPIC Beachland Estate, Lagos/Ibadan Expressway, Lagos. Gabriel Akinadewo, MD/CEO 08023010222, 08094000056, 08052097814.