Rice, a dietary cornerstone for millions in Nigeria, holds cultural significance beyond its nutritional value, gracing ceremonial tables across the nation.
Yet, the soaring costs of this staple have cast a shadow over household budgets.
In a recent turn of events, the price of rice has taken a significant nosedive, offering respite to countless Nigerian families grappling with mounting food expenses.
Reports suggest a remarkable reduction of over 20%, marking a notable shift in the country’s economic landscape.
A key catalyst behind this downturn is the long-awaited reopening of the Nigeria-Niger border, which has ushered in a wave of competitively priced paddy rice.
This influx has exerted downward pressure on rice prices, much to the delight of consumers nationwide.
Current Rice Prices Across Nigeria (April 2024)
- 50kg Bag: N45,000 – N65,000
- 25kg Bag: N19,000 – N33,000
- 10kg Bag: N9,500 – N15,000