Reports indicate a significant escalation in rice prices across major markets in Nigeria, with a 50kg sack of imported rice now commanding as much as N90,000 in the capital, Abuja. This sharp increase is prompting concerns about potential further price hikes as the eagerly anticipated festive season draws nearer.
A recent market survey unveiled a substantial jump in the price of certain foreign rice varieties in Abuja, surging from N68,000 to N90,000 within the span of just one week. Similarly, prices in Lagos have remained consistently elevated, reflecting a broader trend of rising food costs.
This upward trajectory in imported rice prices is stoking fears that domestically produced rice could also see its cost increase, driven by the competitive dynamics within the consumer market.
A market price report compiled by Useagrios revealed that the average cost for a 50kg bag of rice across 37 markets nationwide stood at N79,207 as of November 9, 2026, underscoring the widespread nature of the price inflation.
Further analysis showed specific market prices: in Lagos, the commodity was priced at N85,744 at the Mile 12 Market, while Abuja's Garki Model Market recorded a price of N84,443. Other regions also reported high prices, including the 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.
In contrast, the Kaduna Central Market registered one of the lowest prices across the country, with a 50kg bag available for N74,600.
The Useagrios report highlighted an 11.8 per cent increase in the national average price within a six-day period, although it noted that a significant portion of these prices were modelled estimates rather than direct, real-time market observations.
Meanwhile, a separate market investigation conducted in Abuja painted an even starker picture of the foreign rice price surge. Several retailers confirmed that a bag previously acquired for N68,000 was now retailing for N90,000.
A provision seller based in Lugbe, Abuja, expressed his astonishment to Daily Trust regarding the most recent price increase when he attempted to restock his inventory last Thursday. He recounted that the product initially sold for N65,000, then rose to N68,000, only to skyrocket to N90,000 in the span of a single 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 explained, illustrating the impact on purchasing decisions.
He did note, however, that the prices of locally produced rice had not yet mirrored this steep ascent, with most 50kg bags currently selling between N63,000 and N65,000. Nevertheless, he voiced apprehension that local rice prices could eventually increase if imported varieties remained prohibitively expensive, given the inherent competition between the two product categories. He further added that the local measure of foreign rice had seen its price rise from N2,300 to N2,800.
In Ilorin, Kwara State, Mrs. Ajoke Tunde, a retail rice seller, corroborated the volatile market conditions, stating that prices continued to fluctuate. She noted that local brands were now selling for as much as N65,000 per 50kg bag, up from previous prices of N55,000 and N58,000.