The National Bureau of Statistics (NBS) says the average price of a 50kg bag of locally produced rice surged by 20.5 percent in March to N112,000, up from N92,946 in February. The sharp increase underscores the mounting pressure on household incomes as food inflation continues to drive Nigeria’s overall inflation rate.
Imported rice also recorded a rise, with a 50kg bag selling for N133,975 in March, compared with N110,589 in February, representing a 3.06 percent increase. Other staples tracked by the bureau showed similar upward trends. A crate of 30 eggs rose by 2 percent, brown beans climbed 1.41 percent to N1,325 per kilogram, white garri increased 1.38 percent to N801 per kilogram, onions rose 1.59 percent to N1,153 per kilogram, and fresh ginger edged up 0.61 percent to N5,541 per kilogram.
Regional disparities remain stark. Taraba State recorded the highest price for eggs at N6,999 per crate, while Niger State had the lowest at N5,610. Oyo State posted the highest price for beans at N1,937 per kilogram, compared with Taraba’s N745. Abia State led in garri prices at N1,075 per kilogram, while Plateau State reported N513. Onions were most expensive in Abia at N2,115 per kilogram and cheapest in Kwara at N829.
Analysts warn that the rising cost of rice and other staples could deepen food insecurity and widen inequality, particularly in urban centers such as Lagos where household budgets are already stretched. While NBS data places the average price of local rice at N112,000, market checks in some areas suggest retail prices closer to N60,000, highlighting significant variations across regions and markets.
The bureau’s report adds to concerns that Nigeria’s food inflation will remain a major driver of economic instability in the months ahead, with consumers bearing the brunt of rising costs.
Analysts warn that the rising cost of rice and other staples could deepen food insecurity and widen inequality, particularly in urban centers such as Lagos where household budgets are already stretched. While NBS data places the average price of local rice at N112,000, market checks in some areas suggest retail prices closer to N60,000, highlighting significant variations across regions and markets.
The bureau’s report adds to concerns that Nigeria’s food inflation will remain a major driver of economic instability in the months ahead, with consumers bearing the brunt of rising costs.
