Nigeria Sees ₦15,000 Drop in Rice Prices for 50kg Bags

In Nigeria, rice prices have seen a notable decrease, providing relief to households. A market survey published in September 2026 indicates that the price of a 50kg bag of imported long-grain rice has fallen from ₦70,000 in January to ₦55,000 in September, marking a ₦15,000 reduction or 21.4%.

The Alliance for a Green Revolution in Africa (AGRA) reported a 6.9% month-on-month decline in the national average price of milled rice, which stood at ₦616.94 per kilogram in August, down 18.4% from six months prior and 31.8% lower than a year earlier. The decline is attributed to improved supplies and reduced market pressure.

However, prices vary across Nigeria, with the median price of foreign rice at ₦66,000 per 50kg bag in September, ranging from ₦48,500 to ₦110,000 in different markets. Local parboiled rice was priced at approximately ₦61,000, indicating a correction rather than a crash in prices.