Rice prices rise as foreign brands hit N90,000

Rice prices have increased in major Nigerian markets, with a 50kg bag of foreign rice selling for as much as N90,000 in Abuja, Daily Trust reports.

The development has raised concerns about further increases as the festive season approaches.

A market survey showed that the price of some foreign rice brands in Abuja jumped from N68,000 to N90,000 within one week, while prices in Lagos also remained elevated.

The increase is raising fears that locally produced rice could become more expensive as the two categories compete for consumers in the market.

A market price report by Useagrios showed that the average price of a 50kg bag of rice across 37 markets nationwide stood at N79,207 as of November 9, 2026.

In Lagos, the price stood at N85,744 at Mile 12 Market, while Abuja’s Garki Model Market recorded N84,443.

Other markets also recorded high prices, including Oil Mill Market in Rivers State at N83,530, Ogbeogonogo Market in Delta State at N82,835 and Swali Market in Bayelsa State at N82,797.

Kaduna Central Market recorded one of the lowest prices at N74,600 per 50kg bag.

The report indicated that the national average had increased by 11.8 per cent within six days, although most of the prices were modelled estimates rather than direct market observations.

Meanwhile, a separate market survey in Abuja showed a sharper increase in foreign rice prices, with some retailers reporting that a bag previously purchased for N68,000 was now selling for N90,000.

Speaking with Daily Trust, a provision seller in Lugbe said he was surprised by the latest increase when he visited the market to restock last Thursday.

He explained that the product initially sold for N65,000 before increasing to N68,000, only to rise to N90,000 within a week.

“I couldn’t buy it as it was beyond my budget, so I had to buy a different brand for N80,000. This is a product I didn’t buy before, but the price increase made me buy it at that moment,” he said.

He, however, noted that locally produced rice had yet to reflect a similar increase, with mostof them selling between N63,000 and N65,000 per 50kg bag.

He expressed concern that local rice prices could also increase if foreign rice prices remained high, given the competition between the products.

He added that a local measure of foreign rice had increased to N2,800 from N2,300.

In Ilorin, Kwara State, a retail rice seller, Mrs Ajoke Tunde, said the prices continue to fluctuate across markets, with local brands selling as much as N65,000 from N55,000 and N58,000 per 50kg bag.

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