Lagos Food Prices Fluctuate: Rice Drops, Beans Rise

A survey conducted by Blueprint Newspaper revealed that the prices of major food staples in Lagos, such as rice and beans, experienced varying changes from January to June 2026. At Mile 12 Market, the price of foreign rice sold by Mrs Abdulazeez Alimot decreased from N67,000 in January to N52,000 in June, a reduction of N15,000.

Alimot, who sources her rice from Cotonou, Benin Republic, attributed the price changes to transportation costs and exchange-rate fluctuations. In contrast, at Ikorodu Market, a 50kg bag of rice remained stable at N60,000, while a smaller bag increased slightly from N51,000 to N52,000.

Beans prices rose significantly, with a bag in Ikorodu increasing from N63,000 to N89,000, and a paint rising from N3,200 to N4,000. At Mile 12, Oloyin beans prices surged from about N80,000 to N160,000.

The survey indicates that food prices can respond differently to various market conditions.